Home Appreciation
Appreciation is a home’s increased value over time. Historically, real estate appreciates from 3% – 5% each year nationally Considering...
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TOCR Real Estate School
Aug 22, 20221 min read
What is a Purchase Agreement?
A purchase agreement is a contract between a buyer and seller stating the terms of the home sale. It may stipulate conditions like sale...
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TOCR Real Estate School
Aug 17, 20221 min read
What is a Bridge Loan?
A bridge loan is a temporary loan used while permanent financing is being secured. Bridge loans often have higher interest rates. They...
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TOCR Real Estate School
Aug 15, 20221 min read
What is Amortization?
Amortization refers to a payment schedule outlining what goes toward principal and interest balances. Typically, payment goes toward...
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TOCR Real Estate School
Aug 9, 20221 min read
What is a Blanket Mortgage?
Blanket mortgages cover more than one plot of land financed by the same borrower. This can help save time and money. For example, a...
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TOCR Real Estate School
Aug 2, 20221 min read
What is Compound Interest?
Compound interest accumulates from both your principal balance and interest owed. On a loan, this means you will progressively owe more...
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TOCR Real Estate School
Jul 27, 20221 min read
What is Eminent Domain?
The government retains the right to take private property and convert it for public use if it compensates the owner fairly. This right is...
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TOCR Real Estate School
Jul 26, 20221 min read
What is a Homeowner's Association (HOA)?
A homeowner’s association is a private association that manages a planned community or condominium. When you purchase a property that is...
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TOCR Real Estate School
Jul 22, 20221 min read
What is Private Mortgage Insurance (PMI)?
Private mortgage insurance is a policy that protects your lender in case you default on your loan. Usually, if your down payment is less...
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TOCR Real Estate School
Jul 21, 20221 min read
What Is the Difference Between a Buyer’s Agent and a Listing Agent?
A buyer’s agent represents the buyer’s interests – finding a home within budget that matches their preferences. The listing agent...
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TOCR Real Estate School
Jul 19, 20221 min read
What is Cost of Funds Index (COFI)?
Lenders use this index to adjust their interest rates on adjustable-rate mortgages. COFI uses changing economic conditions to provide a...
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TOCR Real Estate School
Jul 15, 20221 min read
What is a Contingency?
A contingency is a condition that must be met before the sale is legally binding. For example, a buyer can make their offer contingent on...
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TOCR Real Estate School
Jul 12, 20221 min read
What Does Under Contract Mean?
When a buyer and seller agree on a purchase agreement, the home moves to “under contract” status. This means both parties are legally...
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TOCR Real Estate School
Jul 11, 20221 min read
What is a Seller's Disclosure?
A Seller’s Disclosure is a legal document sellers must fill out stating any home defects that may affect its value. Requirements on what...
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TOCR Real Estate School
Jul 8, 20221 min read
What is Assessed Value?
Assessed value is a professional estimate of a home’s market price for property tax purposes. Similar properties, the home’s location and...
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TOCR Real Estate School
Jul 7, 20221 min read
What is a Buyer's Market vs. a Seller's Market?
The real estate market will vary in who it favors: buyers or sellers. In a buyer’s market, conditions favor those looking to purchase...
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TOCR Real Estate School
Jul 5, 20221 min read
What is Amortization?
Amortization is the schedule of your mortgage payments spread out over time. In real estate, a buyer's amortization schedule is usually...
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TOCR Real Estate School
Jun 30, 20221 min read
What is a Blanket Mortgage?
Blanket mortgages cover more than one plot of land financed by the same borrower. This can help save time and money. For example, a...
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TOCR Real Estate School
Jun 30, 20221 min read
What is a Backup Offer?
If a buyer wants a home already under contract, they may request to be “next in line” by submitting a backup offer. Backup offers must...
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TOCR Real Estate School
Jun 28, 20221 min read
What is a Clear Title?
A clear title shows the undisputed, legal property owner. This means there are no liens or levies from creditors or other parties that...
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