Terms Every Home Buyer And Seller Should Know
By Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource
(Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL)
Terms Every Home Buyer And Seller Should Know The real estate industry, like most others, uses jargon that is sometimes difficult to understand. Consider this a primer to learning a few of those terms! Below you have a step by step definition of Terms to Know When Buying or Selling a Home which will make you sound “in the know” when buying or selling a home. Remember that terms and documents used, their meaning and guidelines do vary from state to state, but the following definitions are a very good representation of a few of those terms you will become familiar with during a real estate transaction. "CLOSING" - Closing refers to the final steps in securing a home purchase. When a property is sold, it is referred to as "closed." “OFFER” - Buyers “offer” a contracted rate on a home fo...
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