Search results
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.
Get started with common real estate terminology every investor should know: Appraisal: The appraisal is an independent survey conducted by a lender to determine a property’s value, based on its condition and comparable listings. This process helps validate the agreed upon purchase price between a buyer and seller.
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.
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.
Use our free dictionary aimed to help you better understand the real estate language. This real estate glossary is one of the most extensive in the industry and is used by many real estate brokers, real estate schools and instructors across the country. While great care and research was undertaken to provide accurate explanations and ...
Oct 25, 2018 · Equity. Home equity is the part of your property you actually own. While you do “own” your home, your mortgage lender has interest in the property until it’s paid off. To calculate your home’s equity, subtract your outstanding loan balance from the current market value of your property.
The Secret Slang of House Flipping. This glossary of real estate terms will help you master every step of homebuying, renovation, home decor, and more.
