What is a Right of Refusal?
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...
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TOCR Real Estate School
- Mar 27
- 1 min
What is Negative Amortization?
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...
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TOCR Real Estate School
- Mar 27
- 1 min
What is a Homeowner's Association?
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...
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TOCR Real Estate School
- Mar 22
- 1 min
What is Fair Market Value?
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...
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TOCR Real Estate School
- Mar 22
- 1 min
What is Earnest Money?
Earnest money is cash, usually held in an escrow, that shows the seller that the buyer is serious about going through with the...
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TOCR Real Estate School
- Mar 22
- 1 min
What is a Conventional Mortgage?
Conventional mortgages are among the industry’s most common loan offerings. In fact, many homebuyers choose a traditional 30-year...
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TOCR Real Estate School
- Mar 22
- 1 min
What is a Chain of Title?
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...
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TOCR Real Estate School
- Mar 22
- 1 min
What is a Brokerage?
Sometimes the terms “real estate agent” and “real estate Broker” are used interchangeably, but the truth is real estate agents sell real...
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TOCR Real Estate School
- Mar 13
- 1 min
What is Pre-Approval?
The pre-approval process involves a potential lender or bank reviewing an individual's finances, including their income, assets, and...
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TOCR Real Estate School
- Mar 13
- 1 min
What is a Home Equity Line of Credit?
Home equity line of credit (also referred to as a HELOC) is a second mortgage that allows a homeowner to borrow money against their...
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TOCR Real Estate School
- Mar 13
- 1 min
What is an Exclusive Listing?
An exclusive listing is when a seller commits to working with one specific broker and a designated agent on the sale of a property....
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TOCR Real Estate School
- Mar 13
- 1 min
What is Escrow?
During the home buying process, your money will be placed "in escrow" and is protected by a third party until the real estate transaction...
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TOCR Real Estate School
- Mar 13
- 1 min
What is a Down Payment?
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...
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TOCR Real Estate School
- Mar 13
- 1 min
What is a Conventional Mortgage?
A conventional mortgage is Ideal for borrowers with strong credit, this type of loan is not backed by a government agency like the...
7 views1 comment
TOCR Real Estate School
- Mar 6
- 1 min
What is a Blind Offer?
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...
6 views1 comment
TOCR Real Estate School
- Mar 6
- 1 min
Days on Market (DOM)
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...
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TOCR Real Estate School
- Mar 6
- 1 min
What is a Home Sale Contingency?
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...
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TOCR Real Estate School
- Mar 6
- 1 min
What is an Inspection Contingency?
Also known as a “due diligence contingency,” the inspection contingency is a clause sometimes offered in a purchase agreement that grants...
6 views2 comments
TOCR Real Estate School
- Mar 6
- 1 min
What is a Title Search?
A title search examines public records for the history of the home, including sales, purchases, and tax and other types of liens....
2 views1 comment
TOCR Real Estate School
- Mar 6
- 1 min
What is a Short Sale?
In a short sale, the property is being sold for less than the debt secured by the property. Short sales will require the approval of the...
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