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15 Homebuying Terms You Should Know When Searching for Your New Home

RIS Media

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. The document includes loan terms, monthly payment and closing costs.

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

The Close

Chain of title. As clients get ready for closing, they’ll hear a lot about the title. Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. In fact, buyers should go one step further (if they can) and get pre-underwritten for a loan , which offers even more security for both buyers and sellers. Short sale.

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Sell Your House for Cash: For Some, the Convenience Can’t Be Beat

HomeLight

If you’d like to connect with an agent today who’s connected to local cash buyers, HomeLight makes it easy and fast to find a top real estate agent near you with your preferred qualifications. Reasons to sell your house for cash. You’re overwhelmed with prepwork.