An exclusive listing is when a seller commits to working with one specific broker and a designated agent on the sale of a property. ...

Equity is calculated by taking the difference between the amount owed to a lender and the market value of a property. Considering a...

An easement grants someone the legal right to use another person’s real estate for a specific purpose while leaving the title in the...

A breach of contract is a violation of any term or condition included in your real estate contract. This can apply to sellers or buyers...

A bill of sale records the transfer of a property from a seller to a buyer. The seller typically signs this document at closing. The bill...

Assessed value is the dollar value placed on a home by the local municipality, which then decides how much a homeowner owes in property...

An adjustable-rate mortgage (ARM) is a mortgage with an interest rate that goes up or down based on market conditions. There's usually a...

Closing costs are the other expenses associated with the sale of a home. or example, the buyer has a variety of fees connected to...

Conventional mortgages are funded by private lenders rather than government-backed agencies. Most often, these loans are then sold to...

Due diligence is the period of time when a buyer examines a home’s condition and contract terms before becoming legally obligated to...

An exclusive listing occurs when a seller contractually agrees to work with only one broker. In contrast, an open listing means the...

A purchase agreement is a contract between a buyer and seller stating the terms of the home sale. It may stipulate conditions like sale...

When a buyer and seller agree on a purchase agreement, the home moves to “under contract” status. This means both parties are legally...

A Seller’s Disclosure is a legal document sellers must fill out stating any home defects that may affect its value. Requirements on what...

A buydown happens when the borrower purchases a lower interest rate by paying a premium called a “point.” If you expect to increase your...

A bridge loan is a temporary loan used while permanent financing is being secured. Bridge loans often have higher interest rates. They...

A title search is performed by a title company or real estate attorney hired by the mortgage lender. The purpose of the title search is...

It is always important to clarify with a real estate agent who they represent – because it may not be you or just you. In the case of...

When a homeowner can’t afford to pay their mortgage, they risk foreclosure, wherein the lender (usually their bank) reclaims the property...

Brokers are real estate professionals who have taken advanced courses and licensing to understand real estate and property management...