A home inspector examines your home for integrity – such as the HVAC system, electrical, plumbing, attic, flooring, foundation, etc.
Escrow
Escrow as it relates to real estate is a process of holding money and documents in a secure account while two parties complete a purchase. Escrows are usually held by a Title and Escrow company. This gives the buyer and seller peace of mind that the transaction is safe and that the buyer will not […]
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.
Dual Agency
The representation of opposing principals (buyers & sellers) at the same time. That is, one real estate agent represents both the buyer and the seller in one transaction (sale of a home).
Contingent
In real estate, a contingent offer is an offer made on a property, which says that certain conditions must be met in order for the sale to be completed.
Active Contingent
Active contingent in real estate is a status of a property listing indicating that it is under contract, but that the sale is contingent on certain conditions being met. These conditions may include the sale of the buyer’s current home, the receipt of satisfactory inspection reports, or the approval of a loan. If the conditions […]
How Do I Know If It’s Time to Buy Instead of Rent?
If you know where you want to live, have a steady and secure income, and are ready for the responsibilities of homeownership, then it might be time to invest in a home. Read “5 Questions to Ask Before Purchasing Your First Home” to learn more about determining if now is the right time to buy […]
