Pre-Qualification
Pre-Qualification is a lender's estimate of how much money a borrower may be able to borrow. Considering a career in real estate? Check...
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TOCR Real Estate School
Jul 17, 20231 min read
Addendum
An addendum is a document that amends or adds to an existing contract. Considering a career in real estate? Check out our upcoming...
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TOCR Real Estate School
Jul 17, 20231 min read
Abstract of Title:
An abstract of title is a document that summarizes the history of ownership of a property. Considering a career in real estate? Check out...
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TOCR Real Estate School
Jul 17, 20231 min read
Pre-Approval Letter
Before you apply for a mortgage or even start looking for a home, you should get a pre-approval letter from the bank, which is an...
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TOCR Real Estate School
Jul 17, 20231 min read
Fixed Rate vs. Adjustable Rate Mortgages
Conventional loans include “fixed rate” and “adjustable rate” mortgages. A fixed rate mortgage has a predetermined interest rate...
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TOCR Real Estate School
Jul 17, 20231 min read
Buyer’s Agent vs. Listing Agent
There are usually two agents involved when you buy a home; the “buyer’s agent,” who represents you, and the “listing agent,” who...
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TOCR Real Estate School
Jul 10, 20231 min read
What is a Comparative Market Analysis (CMA)?
A comparative market analysis (CMA) is something a real estate agent will complete to determine a home’s value and the asking price when...
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TOCR Real Estate School
Jul 10, 20231 min read
What is a Walk-Through?
The walk-through usually refers to the final tour of the property a buyer takes right before the closing. The goal is to ensure the home...
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TOCR Real Estate School
Jul 10, 20231 min read
What are Contingencies?
Contingencies are clauses in a purchase and sale agreement specifying an action or requirement that must be met (or met within a certain...
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TOCR Real Estate School
Jul 10, 20231 min read
Residential Real Estate
Residential real estate is property specifically developed as a place for people to live. It ranges from single-family houses to...
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TOCR Real Estate School
Jul 10, 20231 min read
What is a Real Estate Commission?
While some agents work for a flat fee, most real estate agents are paid through a commission, a percentage of the sale of your property....
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TOCR Real Estate School
Jul 3, 20231 min read
What is a Comparative Market Analysis (CMA)?
When you sit down for your listing appointment, one of the most important things you’ll have with you is your comparative market...
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TOCR Real Estate School
Jul 3, 20231 min read
What is a Chain of Title?
As clients get ready for closing, they’ll hear a lot about the title. Chain of title is an historical record of previous owners of a...
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TOCR Real Estate School
Jul 3, 20231 min read
What is a Buydown?
This is a really helpful concept for today’s market. You’ll want to encourage your clients to consult with their mortgage specialist, but...
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TOCR Real Estate School
Jul 3, 20231 min read
What is Amortization?
Amortization is one of those words everyone has heard but few really understand. Basically, amortization is the preset schedule of...
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TOCR Real Estate School
Jul 3, 20231 min read
Active Contingent
To help your clients understand contingencies, use the word “conditional.” If a property is active contingent, a buyer has submitted an...
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ngramuglia3
Jun 26, 20231 min read
What is a Title?
A Title is a legal document proving current and proper ownership of the property. Also referred to as a Title Deed, this document...
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ngramuglia3
Jun 26, 20231 min read
What is Earnest Money?
Earnest Money is the deposit made from the buyer to the seller when submitting an offer. This deposit is typically held in trust by a...
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ngramuglia3
Jun 26, 20231 min read
What Are Contingencies?
Contingencies are conditions which must be met such as an inspection of the home or the approval of the loan. Contingencies are typically...
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ngramuglia3
Jun 26, 20231 min read
What Are Closing Costs?
Buyers and seller both have expenses associated with the home sales other than that of the actual cost of the home. For example, the...
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