Nonhomogeneity is a lack of uniformity in a property or neighborhood. Nonhomogeneity can make it difficult to value a property, as it can...

A use of property that is not permitted by the zoning ordinance. Nonconforming uses are often grandfathered in, meaning that they are...

Variance is a permit that allows a property to be used in a way that is not allowed by the zoning laws. Considering a career in real...

Title insurance is insurance that protects the buyer against any title defects. Considering a career in real estate? Check out our...

A settlement is the final step in a real estate transaction, when the buyer takes possession of the property and the seller receives the...

A title is a legal document that proves ownership of a property. Considering a career in real estate? Check out our upcoming...

A real estate agent is a licensed professional who can help buyers and sellers buy, sell, or rent property. Considering a career in real...

A back-up offer is an offer to purchase a property that is made after the seller has already accepted another offer. Considering a career...

Closing costs are the fees associated with the closing of a real estate transaction, such as title insurance, appraisal fees, and...

A homeowners association is a group of homeowners who create and enforce rules and regulations for a specific property or community....

Property disclosure is a document that provides information about the condition of a property. Considering a career in real estate? Click...

Pre-Qualification is a lender's estimate of how much money a borrower may be able to borrow. Considering a career in real estate? Check...

An addendum is a document that amends or adds to an existing contract. Considering a career in real estate? Check out our upcoming...

An abstract of title is a document that summarizes the history of ownership of a property. Considering a career in real estate? Check out...

Before you apply for a mortgage or even start looking for a home, you should get a pre-approval letter from the bank, which is an...

Conventional loans include “fixed rate” and “adjustable rate” mortgages. A fixed rate mortgage has a predetermined interest rate...

There are usually two agents involved when you buy a home; the “buyer’s agent,” who represents you, and the “listing agent,” who...

A comparative market analysis (CMA) is something a real estate agent will complete to determine a home’s value and the asking price when...

The walk-through usually refers to the final tour of the property a buyer takes right before the closing. The goal is to ensure the home...

Contingencies are clauses in a purchase and sale agreement specifying an action or requirement that must be met (or met within a certain...