• Home
  • Blog
  • Contact
    • Location
  • About
    • Libby Guthrie
    • Ken Guthrie
    • Brittany Armenta Perez
  • Search the MLS
  • Sell
    • Sell My House
    • What’s My Home Worth?
  • Buy
    • Search the MLS
    • Home Buyers Guide – How to Avoid Costly Mistakes When Buying a Home
    • Frequently Asked Questions of Home Buyers
  • Reviews
    • Leave Your Review
  • FAQs

Guthrie Group Homes

Real Estate

Call Guthrie Group Homes, Real Estate at (925) 628-2436 | DRE #01117537Guthrie Group Homes, Real Estate - Keller Williams East County
Real Estate - Home » Frequently Asked Real Estate Questions

Frequently Asked Real Estate Questions

In the world of real estate, there are so many terms and phrases it can boggle the mind. 🤯 And agents tend to use a lot of “Realtor Speak” when communicating with clients.

We can’t help it. After so many years in the business, it’s just how we think and communicate with other professionals in the industry.

So forgive us for using our whacky terminology on you! To help out, below you will find many commonly used terms and real estate related definitions.

But if things aren’t clear or you still need answers to your questions, just reach out and we’ll be happy to help!

Welcome!

Welcome to our Frequently Asked Real Estate Questions page! Here you will find answers to some of the most common questions about buying and selling real estate.

Whether you are a first-time homebuyer or a seasoned investor, we have compiled a list of questions that can help you in your real estate journey.

Our goal is to provide you with the information you need to make informed decisions about your property.

If you have any additional questions, please don’t hesitate to contact us for more assistance. We look forward to helping you find the right property for your needs. Thank you for visiting!

Buying and Selling Real Estate

Are you looking to buy or sell a home?

If so, you may have a lot of questions about the real estate process. From finding the right property to understanding the paperwork involved, it can be overwhelming to navigate the real estate market.

To help make things easier, we’ve compiled a list of some of the most frequently asked real estate questions.

Whether you’re a first-time homebuyer or an experienced investor, these answers can help you get started on your real estate journey.

1. How do I find the right property for me?

The first step in finding the right property for you is to determine your budget and needs.

Consider the size of the home, location, and any special features you may want.

Once you have a better idea of what you’re looking for, start researching properties in your area.

You can search online, or contact a real estate agent for assistance.

2. What documents do I need to buy a home?

When buying a home, you’ll need to provide a few documents to your lender.

These include proof of income, bank statements, tax returns, and more.

Your lender will also require you to sign a purchase agreement, which outlines the terms of the sale.

Make sure to read through your purchase agreement carefully and ask questions if you don’t understand any of the language.

3. What is the process of selling a home?

Selling a home involves a few steps. First, you’ll need to list your property on the market and wait for offers.

Once you receive an offer, you’ll need to negotiate the terms with the buyer and sign a contract.

You’ll also need to complete the necessary paperwork and prepare the home for inspection.

After the inspection and appraisal are completed, you’ll need to close the sale and transfer the title.

4. What is the difference between renting and leasing?

The main difference between renting and leasing is the length of the agreement.

Renting typically requires a month-to-month agreement, while a lease is usually for a set period of time.

Renters are typically responsible for maintenance and repairs, while a landlord is usually responsible for these costs with a lease.

We hope this list of frequently asked real estate questions will be helpful as you navigate the real estate market.

If you have any additional questions, please contact a real estate professional for assistance.

Find the answers to your most asked questions about real estate. Click on the big + button to view the answer.

c Expand All C Collapse All

Financing

a

Amortization

Posted by Libby Guthrie
Amortization
Amortization

What is Amortization?

The action or process of gradually writing off the initial cost of an asset.

Do you know what kind of mortgage you have? Do you know whether your payments are going to increase over time? 📈

“Amortization” is the term used for the schedule of mortgage installment payments over a period of time. Typically, a buyer’s amortization schedule is one payment per month over 15 or 30 years.

📢 Important:

📝 There are both adjustable and fixed-rate mortgages. With an adjustable rate, the lender can increase the rate on a predetermined schedule, which would impact your amortization schedule.

📝 With a fixed rate, your payments with remain the same for the life of the loan, unless you refinance or there are changes to taxes or insurance.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Financing
Tags: Homebuyer Terms, Homeowner Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Equity

Posted by Libby Guthrie
Equity
Equity

The equity in a home or property is the difference between how much your home is worth and how much you owe on your mortgage.

So if your home is worth $500,000 and you owe $450,000 on your mortgage, your equity in the home is $50,000.

See also home equity line of credit.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Financing
Tags: Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

HELOC

Posted by Libby Guthrie
HELOC
HELOC

What is a HELOC?

A HELOC (Home Equity Line of Credit) is a type of loan that allows a homeowner to borrow against the equity in their home.

The borrower can use the money for whatever they choose and the interest rate is usually lower than other types of loans.

The loan is secured by the home, so if the borrower can’t make payments, the lender can take the house.

Sometimes a Home Equity Loan is a better choice for the borrower. Talk to your lender to find out more.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Financing
Tags: Homeowner Terms, Mortgage Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Reverse Mortgage

Posted by Libby Guthrie
Reverse Mortgage
Reverse Mortgage

What is a Reverse Mortgage?

A financial agreement in which a homeowner relinquishes equity in their home in exchange for regular payments, typically to supplement retirement income. This type of loan is for seniors ages 62 and older.

Should you get a reverse mortgage?

While it can be a great way to supplement your retirement income, there are some things to watch out for:

⚠️ High fees
To get and finalize your reverse mortgage, you’ll be paying a range of fees that can add up quickly.

⚠️ Variable or high-interest rate
The interest rate is often higher than that of a standard mortgage. It may also be variable, rather than fixed, which means it can increase in the future.

⚠️ Less money for your heirs
The remaining amount of your estate will need to be repaid when you’re no longer here, usually in a specific period of time, which can be costly and stressful for your family.

This is why, in some cases, downsizing can be a better option. If you’re deciding between the two, contact us to discuss your options and make the best choice for your needs.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Financing
Tags: Homeowner Terms, Mortgage Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Underwater

Posted by Libby Guthrie
Underwater
Underwater

What does it mean when you are Underwater?

The phrases “underwater” and “upside down” refer to a situation when the amount owed on a mortgage loan is greater than the value of the property.

In simpler terms, a house is underwater when the owner owes more on the mortgage than the house is worth.

You have various options on what to do if you are in this situation.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Categories: Financing, Home Sellers
Tags: Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top

Home Buyers

a

Easement

Posted by Libby Guthrie
Easement
Easement

What is an easement? 🔎🏡

A right to cross or otherwise use someone else’s land for a specified purpose.

The term often crops up after buyers have made an offer on a home that’s been accepted, at which point a title search brings up the easement—which is essentially the legal right for someone else to use the property, or part of the property for a specific purpose.

Say what? You bend over backward to buy a home and now you have to share?! Don’t worry, in most cases, it’s not as bad as it sounds.

Types of Easements:

📝 Right of way: This is where a neighbor may need to pass through the property via a driveway to access the main road, a neighborhood playground, or a community feature (like a lake).

📝 Utility maintenance: This easement is typically granted to utility companies to run power and cable lines on a property.

📝 HOAs/condos: If you live in a condo or home managed by a homeowners association, odds are these institutions own much of the property—while residents have rights to pass through.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Home Buyers
Tags: Homebuyer Terms, Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Homeowners Association (HOA)

Posted by Libby Guthrie
Homeowners Association (HOA)
Homeowners Association (HOA)

What is a Homeowners Association (HOA)?

A private organization that is often formed by a real estate developer to manage homes and lots in a residential subdivision.

A Homeowners Association (HOA) is an organization made up of homeowners who live in a specific neighborhood or development.

The HOA is responsible for managing and maintaining the common areas of the neighborhood, such as parks and playgrounds.

They may also have rules in place that all homeowners must follow, such as restrictions on landscaping or noise levels.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Home Buyers
Tags: Homebuyer Terms, Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Property Taxes

Posted by Libby Guthrie
Property Taxes
Property Taxes

What are Property Taxes?

A levy or tax imposed by a municipality on real estate and personal property. The amount of tax varies depending on the property value.

Property taxes are an annual tax that local municipalities collect each year, based on the assessed value of your property (not on the appraised value of your home). These funds help pay for services that benefit the community, such as schools, roads, maintenance, etc.

First-time homeowners often forget to factor property taxes into the overall cost of their new home, which can come as a nasty shock come tax season. So let this be a reminder to all homeowners to calculate property taxes into their annual budget!

💰 BONUS TIP: If you own a rental property, your property taxes may be tax-deductible 💰

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Categories: Home Buyers, Home Sellers
Tags: Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Title

Posted by Libby Guthrie
Title
Title

What is the Title of a house or property?

Title (aka Title Deed) refers to the legal document that shows the history of ownership and transfers of property – proving you are the current and rightful owner of the property.

A title, also known as a title deed, is a document that shows who owns a piece of property.

When someone buys a house, they get a title deed that shows they are the owners.

The title deed has the names of the people who bought the house and is signed and notarized so it is legally valid.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Home Buyers
Tags: Homebuyer Terms, Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top

Home Sellers

a

Property Taxes

Posted by Libby Guthrie
Property Taxes
Property Taxes

What are Property Taxes?

A levy or tax imposed by a municipality on real estate and personal property. The amount of tax varies depending on the property value.

Property taxes are an annual tax that local municipalities collect each year, based on the assessed value of your property (not on the appraised value of your home). These funds help pay for services that benefit the community, such as schools, roads, maintenance, etc.

First-time homeowners often forget to factor property taxes into the overall cost of their new home, which can come as a nasty shock come tax season. So let this be a reminder to all homeowners to calculate property taxes into their annual budget!

💰 BONUS TIP: If you own a rental property, your property taxes may be tax-deductible 💰

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Categories: Home Buyers, Home Sellers
Tags: Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Short Sale

Posted by Libby Guthrie
Short Sale
Short Sale

A “short sale” is a home sold at a discounted price. But why would someone want to sell their home for less than it’s worth? 🤔

Homeowners struggling to make payments on their mortgage are faced with the option to foreclose on their property, which can severely damage their credit.

But a short sale can leave less of a negative impact, and some sellers can qualify for other home loans once the short sale closes.

If you’d like to learn more about short sales in our area (how they work, if they’re in your best interest, or how to take advantage of them if you’re a buyer), send us a message 📲

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Category: Home Sellers
Tags: Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top
a

Underwater

Posted by Libby Guthrie
Underwater
Underwater

What does it mean when you are Underwater?

The phrases “underwater” and “upside down” refer to a situation when the amount owed on a mortgage loan is greater than the value of the property.

In simpler terms, a house is underwater when the owner owes more on the mortgage than the house is worth.

You have various options on what to do if you are in this situation.

Share
Tweet
Pin
Share
Pocket
Buffer
0 Shares
Categories: Financing, Home Sellers
Tags: Homeowner Terms, Real Estate Terms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top

Find Us on Social Media

Facebook
Facebook
fb-share-icon
Instagram
Pinterest
YouTube
YouTube
LinkedIn
LinkedIn
Share
Twitter
Follow Me

Our Most Popular Content

  • First-Time Home Buyer TipsFirst-Time Home Buyer Tips I’ve put together 15 First-Time Home Buyer Tips for you
  • Trilogy at Rio VistaTrilogy at Rio Vista Over 55 Community Have you been thinking about moving to a senior
  • A Homeowners Guide to Home Insurance A Homeowners Guide to Home Insurance Does Your Insurance Cover That? No one likes to
  • Real Estate - Home » Blog » Real Estate » You Just Listed Your Home, Now What? You Just Listed Your Home, Now What? You Just Listed Your Home, Now What? While listing and selling your home can feel
  • What $500,000 Will Buy You In Brentwood, CA vs. San Jose, CA What $500,000 Will Buy You In Brentwood, CA vs. San Jose, CA OK, we all know that buying a home
  • How Much Is My Home Worth? How Much Is My Home Worth? Get a FREE home valuation from expert

Blog Topics

  • FAQ's
  • Financing
  • Home Buyers
  • Home Improvement
  • Home Sellers
  • Homeowners
  • Libby and Ken Recommend
  • Local Communities
  • Page
  • Real Estate
  • Seasonal

guthriegrouphomes

Libby Guthrie, Realtor
@ Keller Williams 865-966-5005
🏡 Helping You Make the Move to Knoxville
📱 Cell: 865-364-0200
🏡 Good People, Great Homes!

Want to sell your home quickly and for top dollar? Want to sell your home quickly and for top dollar? These proven strategies will put you on the fast track to a speedy sale! 🏎️Schedule a FREE home value assessment—and let’s make your sale a success!📲 865-364-0200
📧 Libby@GuthrieGroupHomes.com#RealEstate #RealEstateAgent #HomeSellerTips #SellYourHomeFast #MarketReady
Are you dreaming of owning a home but unsure if yo Are you dreaming of owning a home but unsure if you’ll qualify for a mortgage? 🏡✨Here are some ways to boost your chances!✅ Improve Your Credit Score – Pay bills on time & dispute any errors.
💳 Lower Your Debt – Less debt = a stronger application.
💰 Look Into Home Buyer Programs – You may qualify for assistance!
📝 Consider a Co-Signer – A trusted family member could help secure your loan.Ready to take the next step? Check out our blog for more tips! [Link in Bio]#RealEstate #RealEstateAgent #HomeBuyingTips #MortgageReady #FirstTimeHomeBuyer
Follow on Instagram

Hours & Info – Guthrie Group Homes, Real Estate

Location
191 Sand Creek Rd #100,
Brentwood, CA 94513

Contact Us
info@guthriegrouphomes.com
Office: (925) 628-2436

Broker:
Keller Williams East County

Real Estate License
Lic #01117537

Hours
Monday - 9AM–5PM
Tuesday - 9AM–5PM
Wednesday - 9AM–5PM
Thursday - 9AM–5PM
Friday - 9AM–5PM

Weekends by Appointment
Call (925) 628-2436

See Location

Real Estate Menu
How We Market Your House
Home Search
Blog
Sitemap
FAQs

Search Here

Visit our Sister Site in Knoxville Tennessee

Libby Guthrie Real Estate, Knoxville TN
Libby Guthrie Realtor, Knoxville TN

Guthrie Group Homes, Knoxville TN

Discover the history, beauty, and affordability of the Greater Knoxville area. Each neighborhood in Knoxville has its own charm and is worth exploring to get a true sense of the city's diverse character!

  • Home
  • Contact
  • Location
  • About
  • How Much Is My Home Worth?

Copyright © 2025 · Guthrie Group Homes, Real Estate · Lic #01117537 · 925-628-2436 · Brentwood, Antioch and Oakley, California · Log in

If your home is currently listed or you are a buyer represented by another real estate agent, this website, article, or blog post is for informational purposes only.

It is not our intention to solicit the offerings or clients of other real estate agents or brokers.

All information on this site is deemed reliable, but not guaranteed.

Terms of Use  | Cookies Policy | Privacy Policy | Advertising Policy | Accessibility

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy