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Nov 13, 2023 · Even if you know every one of the 136 real estate terms on this list and how to use them, your clients expect you to be their interpreter. This comprehensive list of real estate definitions will help you ensure you’re communicating with clients effectively.
Nov 28, 2023 · What Does Suburb Mean? A suburb is a geographic region at the edge of a town or city. It’s a neighborhood where people reside, usually to escape urban life’s chaos and frantic pace.
Oct 10, 2023 · “Urban” and “suburban” are two terms used to describe different types of residential areas, each with its own characteristics and lifestyle attributes: Urban neighborhoods at a glance: Urban areas are typically densely populated regions located in or near the central core of a city or metropolitan area.
- Adjustable-rate mortgage (ARM) With ARM loans, interest rates can change after an initial fixed rate period as they adjust based on the interest rate index the ARM is tied to (e.g., LIBOR, COFI, etc.).
- Appraisal. An appraisal is required to gather the estimated value of a piece of real estate. During the home sale, the mortgage lender sends out an appraiser to get a professional opinion of the value of the property.
- Appraisal contingency. An appraisal contingency is a clause that allows a buyer to dissolve a purchase agreement if a home’s appraised value is less than the sale price.
- As-is. A property marketed in “as is” condition usually indicates that the seller is unwilling to perform most if not all repairs. It could also mean that it is priced “as is”, which is typically lower than market pricing in the area.
Apr 11, 2024 · Real estate is full of technical terms you probably won't encounter until you're buying or selling a home. Read through our alphabetical list to find definitions of some of the common terms that you'll discover on your real estate journey.
Jul 21, 2021 · In this post, I’ll go over the definitions of 105 common real estate terms that you’ll likely encounter in your real estate business. Also, feel free to download my Real Estate Vocabulary PDF to save to your device for quick access and offline use. 1. What Does Contingent Mean in Real Estate.
Feb 20, 2022 · It is filled with real estate terms to know as a buyer, seller, or real estate agent. Keep in mind some of these real estate definitions are obscure enough that your real estate agent might not even know how to handle them properly.
