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An estimation of a home's market value by a licensed appraiser based on comparable recent sales nearby homes.
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The agent representing the buyer throughout the process that helps negotiate terms on the buyer's behalf.
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A meeting where the sale of property is finalized. Buyers and sellers sign the final documents and funds are exchanged.
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The percentage of the home purchased price that is paid upfront in cash.
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An amount of money that a buyer pays as a deposit when your offer has been accepted by the seller.
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Federal Housing Administration; the government agency that insures loans designed for low-to-moderate income borrowers
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A forms used by lenders to give to borrowers with an estimate of fees due at closing.
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U.S. Department of Housing and Urban Development (HUD) property that is a one-to-four unit single family residence acquired as a result of a foreclosure on a FHA-insured mortgage.
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An examination of a property and its systems performed by a qualified professional, usually before the sale of a home.
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A mortgage that exceeds the conforming-loan-limit, commonly used for luxury home purchases.
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An interest rate set by the federal government that determines the cost to borrow money.
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The agent who represents the seller in the home-buying process. They negotiate terms on the seller's behalf.
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A database for real estate agents to list and market for-sale homes.
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The amount received by the seller at closing after all other costs have been deducted.
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An event hosted by the listing agent to showcase a home to potential buyers.
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A letter indicating that a lender is willing to loan a specific amount of money for a home purchase; pre-approval does not guarantee a loan.
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A deed that transfers property rights without any validation of ownership, typically used between spouses and family members.
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Real Estate Owned Property; a repossessed property owned by a lender after an unsuccessful sale at auction.
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A document completed by the seller disclosing the property's history and defects.
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The right to ownership of real property recognized and protected by law.
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A buyer has submitted an offer and the seller has accepted but the closing is not final.
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A mortgage loan for veterans and their spouses that is made by private lenders and guaranteed by the US Government.
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The final inspections conducted by the buyer and their agent before a home sale is final.
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Where you sign for your dream home.
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The amount a lender pays a mortgage officer for selling a loan with a higher interest rate than the par rate.
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Public regulations that control the specific use of land.