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Jun 15, 2021 · Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
Mar 20, 2023 · 26. Equity. A percentage of the home’s value owned by the homeowner. 27. Escalation clause. A clause or addendum to a real estate contract or offer that states a buyer is willing to raise his or her offer price to a predetermined amount if the seller receives a higher competing offer for the property.
Jul 6, 2014 · So if you're in the market for a new home and aren't sure how to read an MLS listing, you've come to the right place. What is an MLS listing? MLS stands for Multiple Listing Service, and it's an essential tool for finding real estate for purchase or renting.
May 14, 2024 · Here are some general real estate words you can add to your listings: one-of-a-kind gem. cleverly designed. pride of ownership. pet-friendly. a rare find. immaculate condition. turnkey property. solar panels.
Nov 13, 2023 · A Realtor is a real estate agent who is a dues-paying member of the National Association of Realtors. NAR members are held to a high standard of professionalism and adhere to a strict code of ethics. Refinance. If a borrower takes out a new loan on the same property, it’s called a refinance.
Jul 18, 2023 · 3. Cozy. While this descriptor may bring to mind a comfy armchair and a steaming mug of cocoa, in real estate, “cozy” tends to mean “small.”. The home may have minimal square footage, meaning each room may have very limited space. 💡 Quick Tip: Traditionally, mortgage lenders like to see a 20% down payment.
Oct 22, 2020 · It means the property has a listing contract, it’s live on the MLS, and it’s available for showings and primary offers of purchase. “Active back-up” means the seller has accepted a primary ...
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