Popular Real Estate Terms, from Your Local Realtors
Our first tip for anyone thinking about buying or selling is to find a trusted Realtor to work with. Convinced you won’t be ready for 5 more years? Still start with finding a Realtor who can help you plan and prepare for your real estate journey.
While a Realtor will decode the ins and outs of buying and selling real estate, it’s still helpful to know the most popular terms of real estate.
Do you know these popular real estate terms?
We're always here to make your real estate process as easy-to-understand as possible, but just in case!
Buyer's Agent— A professional real estate agent who guides a buyer through the process of purchasing a home.
Earnest Money— Funds sent from a buyer to a seller with an offer letter to express readiness and seriousness to purchase a home. The money is typically held in escrow (see below).
Contingency— A contingency in an offer means there’s something the buyer has to do for the process to move forward, such as getting approved for a loan or selling a property they own.
Escrow— A fund held by a neutral third party until the purchase transaction has been finalized.
Closing Costs— Expenses beyond the price of the home that must be paid to finalize the transaction.
If you have questions about your next move, or a situation you are currently in, send us a message below!
