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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. Clear title. Earnest money deposit. Related Article.

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Home Buying Checklist: A Survival Guide for Buyers

Redfin

224,000/100 = $2,224 is the maximum monthly mortgage payment, including principal, interest, taxes, house insurance (PITI) plus mortgage insurance, that you could afford according to the 28% rule. . Research mortgage options and get pre-approved for a home loan. Here’s a quick example: Say your monthly gross income is $8,000.