An earnest money deposit is essentially a deposit on the property that you're looking to buy. As a general rule, you can expect to pay...

Closing costs are the fees you pay as part of a purchase agreement for residential property. Sellers have closing costs as well related...

An agent will use real estate comparables in order to determine the market value for a particular property. The acronym for this real...

A Neighborhood Association is a voluntary membership organization that deals with social, political, zoning and other issues which...

A Lien is an interest in property granted by the owner of that property, to another party (the lienholder), until the property owner...

A Fixture is a personal property which is permanently affixed or attached to real property such that it is considered to be an integral...

A Deed of Trust is one form of real estate security agreement granting a security interest in real estate which typically contains a...

Amortization is the gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such...

A property goes into foreclosure when the homeowner misses mortgage payments and the lender tries to recover the balance of a loan....

Transfer of ownership is when a property has a new owner who purchased it and assumed its mortgage debt. Considering a career in real...

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...