If a buyer or seller want to change an existing contract, they might add an addendum outlining the specific part of the contract they’d...

Being under contract refers to a prospective buyer and seller reaching an agreement on a property. At this early stage, both parties are...

A right of refusal is when a lease or contract might include "right of first refusal" to note that an individual has the right to put an...

Negative Amortization is when interest on a mortgage loan has not been paid to the lender, it's added to the loan balance. Considering a...

A Homeowner's Association is when a group of homeowners in a community, such as a condo, join in paying fees that cover the maintenance...

The fair market value of a property is the price a property would fetch if it was put up for sale under current conditions. Determining...

Earnest money is cash, usually held in an escrow, that shows the seller that the buyer is serious about going through with the...

Conventional mortgages are among the industry’s most common loan offerings. In fact, many homebuyers choose a traditional 30-year...

Put simply, the chain of title is the backstory of a property. It’s a record of who built the home, how much it cost, how long they lived...

Sometimes the terms “real estate agent” and “real estate Broker” are used interchangeably, but the truth is real estate agents sell real...

The pre-approval process involves a potential lender or bank reviewing an individual's finances, including their income, assets, and...

Home equity line of credit (also referred to as a HELOC) is a second mortgage that allows a homeowner to borrow money against their...

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

During the home buying process, your money will be placed "in escrow" and is protected by a third party until the real estate transaction...

The down payment is the amount of money a buyer has saved in order to purchase a property. This can typically range from 5 - 20% of the...

A conventional mortgage is Ideal for borrowers with strong credit, this type of loan is not backed by a government agency like the...

When a buyer makes an offer on a property they haven’t seen, even when it was possible to see it, that offer is considered a “blind...

DOM is defined as the number of days from the date on which the property is listed for sale on the local real estate brokers’ multiple...

A home sale contingency is for a buyer to indicate to a seller that part of their condition to purchase the seller’s property relies on...

Also known as a “due diligence contingency,” the inspection contingency is a clause sometimes offered in a purchase agreement that grants...