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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.
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.
PUD: Planned unit development is a real estate development where individual properties share a governing HOA, amenities, and spaces. REO: Real estate owned is property that has been foreclosed on and is now available to buy from the lender. TIC: Tenancy in Common is a form of property ownership where multiple individuals have an undivided ...
Oct 25, 2018 · Real estate agent. A real estate agent is licensed to negotiate and coordinate the buying and selling of real estate transactions. Most real estate agents must work for a realtor or broker with additional training and certification. Real estate owned. Real estate owned (REO) refers to property owned by a bank, government agency, or other lender.
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.
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.
Voluntary alienation. Voluntary bankruptcy. Voluntary lien. Found 2810 Real Estate terms. Find out more about our multiple benefits. Understand the real estate lingo! Don't miss out important information. Clear explanation of all the terms you need when dealing with property and real estate.
