article thumbnail

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

The Close

This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. In a no-cost mortgage, the lending institution pays all of the closing costs in exchange for the borrower paying a higher interest rate. The 9 Best FSBO Scripts (+ Why They Work). Foreclosure. Freddie Mac. No-cost mortgage.