A type of insurance often purchased by homebuyers that will cover repairs to certain items, such as heating or air conditioning, should...

When a group of homeowners in a community, such as a condo, join in paying fees that cover the maintenance of the entire property. Our...

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When a property is listed as “active under contract” it usually means the seller has accepted an offer, but the buyer has yet to fulfill...

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When a seller sends back a new or adjusted offer that differs from the original offer sent by the buyer. Our pre-licensing courses are...

A zoning classification for property that refers to property used for business activities such as retail stores, farms, offices, etc. Our...

This refers to a prospective buyer and seller reaching an agreement on a property. At this early stage, both parties are in alignment...

A trust sale means that the home is being sold by a trustee of a living trust – and not a private party. More often than not this is...

A rowhouse style home is a single family dwelling that shares a roofline and one or more walls with various other homes besides it on...

One of the most important real estate terms that any agent should know is Fair Market Value (FMV). FMV is an accurate representation of...

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Wainscoting is a decorative element often installed below chair rails that features large, rectangular panels made out of painted wood or...

A system of land description using distance (metes) and angles/compass directions (bounds), beginning and ending at the same point....

These windows are made up of one long rectangular panel with a rounded top flanked by two shorter rectangular windows with flat tops....

Found frequently in the northeastern USA, these homes are characterized by gently sloped roofs, an entrance door in the middle of the...

When property is sold to satisfy the owner's debt when mortgage payments are missed or other circumstances. The foreclosure procedure...

The right of a government or municipal quasi-public body to acquire property for public use through a court action called condemnation,...

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Storybook homes are houses that take inspiration from medieval European homes. Incorporating stone and shingled roofs, you can usually...