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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.
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.
A buyer’s agent is a real estate agent who represents the home buyer in a real estate transaction. They help buyers find suitable properties, negotiate the best terms, and guide them through the complex process of purchasing a home. A buyer’s agent advocates for their client’s interests throughout the transaction.
Below-grade: Any facility or part of a facility located underground or below the surface grade. Breach of Warranty: The failure of the seller of real property to pass title as either expressed or implied by law in the conveyancing document. Buffer: A strip of land. a transition established as between distinct land uses.
Oct 25, 2018 · Appreciation. Appreciation is the amount a home increases in value over time. To calculate a home’s likely appreciation rate, add one to the annual appreciation rate, raise this to a power equal to the number of years you’d like to estimate, then multiply that by the current value of the property.
Settlement date – The date the sale of the property will be finalised between buyer and seller. Stamp duty – A tax applied to transfers of property and mortgages. Stamp duty amounts vary from state to state, and discounts are available for certain purchasers, including first-home buyers. STCA – Subject to council approval.
Jul 21, 2021 · 100. What Does TBD Mean in Real Estate. TBD stands for to be determined. In real estate terms, this references a TBD loan approval. This is a type of approval where a buyer gets their income, assets, credit, and more examined in advance before identifying a property. TBD approvals are great for real estate agents because it shows the buyer is ...
