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

The Close

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Comparable sales (comps).

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What Is Buying a Foreclosure Really Like? 5 Homeowners Spill the Tea

HomeLight

He knew the market and what the home could capture in terms of sales price once it had been fixed up. Closing on the sale didn’t take long — as the bank already owned the property — and with a quick turnaround, he’s satisfied with the roughly $15,000 he made. Moving on after divorce.