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...

A net listing is when an agent agrees to sell an owner’s property for a set minimum price. Anything over the minimum price belongs to the...

A mortgage lien is a voluntary, specific lien. In fact, it’s the most common type of voluntary real estate lien. When you borrow money to...

A listing agreement is a document in which a property owner contracts with a real estate agent to find a buyer for the owner’s property....

A land trust is a legal agreement in which a property owner transfers the title to a property to a trustee. Considering a career in real...

When a property is owned by joint tenants, the interest of a deceased owner automatically gets transferred to the remaining surviving...

Non-homogeneiety is when houses in a real estate development are different. If something is non-homogeneous, it indicates a lack of...

A lease that determines the rental prices by evaluating the annual consumer index and determining fair rental price. Considering a career...

When a homeowner can’t afford to pay their mortgage, they risk foreclosure, wherein the lender (usually their bank) reclaims the property...

Days on Market (or DOM) measures the number of days between a property being actively listed for sale and the contract being signed by...

HOA’s are private organizations that take charge of general maintenance and governance of areas of property, usually for condos or gated...