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

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

The fair market value is the amount a property would sell for in a competitive market, or when a seller and buyer can agree on the price...

When a county, village, city, or town hires an assessor to determine the value of a property for tax purposes. Considering a career in...

Blockbusting is for profit, to induce or attempt to induce any person to sell or rent any dwelling by representations regarding the entry...

A beneficial title is an equitable title to real property retained by a mortgagor or trust conveying legal title to secure a mortgage...

Area variance is permission to use land in a manner that is not normally allowed by the dimensional or physical requirements of a zoning...

Capital improvement is an item that adds value to the property, adapts the property to new uses, or prolongs the life of property....

An acceleration clause is a provision in a mortgage or deed of trust that permits the lender to declare the entire principal balance of...

A Title is a legal document which states who has owned a property in the past and notes any liens associated with it. View our upcoming...

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

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 how much of a home’s value can be attributed to the owner. It’s calculated by subtracting the amount owed from the home’s...

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

A clear title shows the undisputed, legal property owner. This means there are no liens or levies from creditors or other parties that...

A chain of title is a document containing all previous property owners, listed in chronological order from the first owner to the present...

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

A title shows ownership of a property. It differs from a deed in that a deed is a physical document and a title is not. Title represents...

If you put an offer on a home without seeing it in person, you’re making a blind offer. This may happen when an out-of-state buyer is...

Appraisals are an expert’s opinion of a home’s market value. Appraisers examine a home’s condition, location and similar properties...