Eminent domain is the government's legal right to take private property for public use, with just compensation being paid to the owner....

Escrow refers to a legal arrangement where a neutral third party holds money or assets until certain conditions are met before releasing...

Equity refers to the ownership interest someone has in an asset, considering any outstanding debts or liabilities. Here's how it works:...

An easement is a legal right granted to one party (the easement holder) to use a specific portion of another party's property (the...

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Earnest money, also referred to as a good faith deposit, is a sum of money put down by a buyer to show the seller they are serious about...

A duplex is a residential building with two separate dwelling units. A duplex essentially functions as two homes under one roof. Each...

A down payment is the portion of the purchase price that you pay upfront, out of pocket, when you buy a home. It's essentially your...

A deposit us usually an upfront payment made by the buyer to show good faith and secure the property while the terms and conditions of...

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In a contract, a default refers to a situation where one party (the defaulting party) fails to fulfill their obligations as outlined in...

Considering a career in real estate? Register now to qualify for early bird pricing for Terrie O'Connor Realtors Real Estate School's...

A deed is a legal document that transfers ownership of a property from the seller (grantor) to the buyer (grantee). Would you like to...

All teachers, nurses and veterans can buy now and save $100 on upcoming real estate pre-licensing courses. View our entire list of...

Curb appeal refers to the visual attractiveness of a property from the street. It's essentially a property's first...

CC&Rs, which stands for Covenants, Conditions, and Restrictions,  are a legally binding document that applies to many planned...

Carrying costs, also sometimes called holding costs or carrying charges, are the ongoing expenses associated with owning a...

In real estate, cash flow refers to the money you earn from a property minus the money you spend on it. Basically, cash flow is the money...

In a real estate contract, a contingency is a clause that outlines a specific condition that needs to be met before the contract is...

Comparable sales or comps are properties that are similar to the one you're interested in, in terms of location, size, and features....