What is a final walkthrough? The last inspection of the property before signing the closing documents. A final walkthrough in real estate is when a buyer goes through the property one last time before the closing. The buyer makes sure that all the items in the contract are in the same condition they were in […]
FHA Loan
What is an FHA Loan? A mortgage insured by the Federal Housing Administration – usually requires a good credit score and a down payment to qualify. An FHA loan is a loan that is backed by the Federal Housing Administration. It is designed to help people buy a home who may not have the money […]
Escalation Clause
What is an escalation clause? An escalation clause is a clause in a real estate contract that allows the purchase price of a property to increase if a certain condition is met. For example, if the buyer and seller agree to an escalation clause and the market value of the property increases, the buyer will […]
Deed
In real estate, what is a deed? A deed is a document that shows who owns a piece of property. When someone buys a house, they get a deed that shows they are the owners. The deed has the names of the people who bought the house and is signed and notarized so it is […]
Contract
A real estate contract is a legally binding agreement between two parties for the sale and purchase of a property. It outlines the price, terms, and conditions of the sale. It also includes any other agreements that the buyer and seller have made, such as repairs that need to be done before the sale is […]
Townhouse
A townhouse is a type of housing where several people own separate units in a larger building or complex. Each unit is owned by an individual and the common areas, such as the lobby, pool, and gym, are shared by everyone who lives in the building. Townhouses are often popular because they are usually smaller […]
Condominium
A condominium (Condo) is a type of housing where several people own separate units in a larger building or complex. Each unit is owned by an individual and the common areas, such as the lobby, pool, and gym, are shared by everyone who lives in the building. Condominiums are often popular because they are often […]
