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...

A lease or contract might include "right of first refusal" to note that an individual has the right to put an offer on a property before...

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

A home inspection involves the evaluation of a property's condition, including electrical work, sewage, and plumbing before the closing....

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

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

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...

Seller concessions are items that the seller agrees to pay for on behalf of the buyer. These can include covering closing costs, or a...

The fair market value of a home is the price a buyer would be willing to pay a seller for a home in an open market. It tries to disregard...

A comparative market analysis (CMA) is something a real estate agent will complete to determine a home’s value and the asking price when...

The walk-through usually refers to the final tour of the property a buyer takes right before the closing. The goal is to ensure the home...