What is a Blind Offer?
If you put an offer on a home without seeing it in person, you’re making a blind offer. This may happen when an out-of-state buyer is...
top of page
Search
TOCR Real Estate School
Dec 7, 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...
4 views0 comments
TOCR Real Estate School
Dec 7, 20221 min read
What Are Comparables?
Comparables are recently sold properties that help appraisers determine a home’s fair market value. They are similar to the listed...
6 views0 comments
TOCR Real Estate School
Dec 6, 20221 min read
What is Due Diligence?
A due diligence period of time might be available in the purchase agreement, which is a time frame provided to a buyer to fully examine a...
8 views0 comments
TOCR Real Estate School
Dec 5, 20221 min read
What is a Quitclaim Deed?
A quitclaim deed is a document transferring ownership of property from one party to another. It transfers the title of the property --...
10 views0 comments
TOCR Real Estate School
Dec 2, 20221 min read
What is a Planned Unit Development?
A planned unit development (PUD) is a housing community made up of single family residences, townhomes, and condominiums -- as well as...
10 views0 comments
TOCR Real Estate School
Nov 30, 20221 min read
What is a Conventional Mortgage?
Conventional mortgages are among the industry’s most common loan offerings. In fact, many homebuyers choose a traditional 30-year...
6 views0 comments
TOCR Real Estate School
Nov 17, 20221 min read
What is a Probate Sale?
Probate sales occur whenever a homeowner passes away without writing a will or leaving the property to someone else. The probate court...
7 views0 comments
TOCR Real Estate School
Oct 31, 20221 min read
What is a Deed-in-Lieu of Foreclosure?
When a homeowner can’t afford to pay their mortgage, they risk foreclosure, wherein the lender (usually their bank) reclaims the property...
5 views0 comments
TOCR Real Estate School
Oct 26, 20221 min read
Acceleration Clause
A provision in a mortgage or deed of trust that permits the lender to declare the entire principal balance of the debt immediately due...
2 views0 comments
TOCR Real Estate School
Oct 12, 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...
5 views0 comments
TOCR Real Estate School
Oct 7, 20221 min read
What Does "Loan-to-Value" Mean?
The loan-to-value (LTV) ratio is the mortgage loan balance divided by the home’s value. It shows how much you’re borrowing from a lender...
4 views0 comments
TOCR Real Estate School
Oct 3, 20221 min read
What is Fair Market Value?
A property’s fair market value is its accurate valuation in a free and open market under the condition that buyers and sellers are...
6 views0 comments
TOCR Real Estate School
Sep 27, 20221 min read
What is an Acceleration Clause?
Also known as an acceleration covenant, this is a contract provision requiring the borrower to repay all of their outstanding loan to a...
15 views0 comments
TOCR Real Estate School
Sep 19, 20221 min read
What is an Earnest Money Deposit?
Earnest money is one of the most critical real estate terms every home buyer and seller should understand—the earnest money an agent...
16 views0 comments
TOCR Real Estate School
Sep 16, 20221 min read
What is a For Sale By Owner (FSBO)?
Homes listed as for sales by owner (FSBO) are being sold without the help of a real estate agent. The biggest benefit to the seller is...
129 views2 comments
TOCR Real Estate School
Sep 12, 20221 min read
What is an Assessor?
An assessor is a public official who establishes the value of a property for taxation purposes. Considering a career in real estate?...
6 views0 comments
TOCR Real Estate School
Sep 9, 20221 min read
What is a Blind Offer?
If you put an offer on a home without seeing it in person, you’re making a blind offer. This may happen when an out-of-state buyer is...
6 views0 comments
TOCR Real Estate School
Sep 7, 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...
5 views0 comments
TOCR Real Estate School
Sep 6, 20221 min read
What is a Home Inspection?
A home inspection examines a home’s condition to find any major safety or structural issues. Inspections usually look at a home’s...
7 views0 comments
bottom of page