- Assessed Value- An assessed value is the dollar value assigned to a property for to measure applicable taxes. Assessed value determines the value of a residence for tax purposes and takes comparable home sales and inspections into consideration.
- Buyers Agent- (Often referred to as “Selling Agent”) The buyer's agent is the individual who represents buyers when they purchase a home. This agent negotiates with the seller's agent (the listing agent) to come to a final price agreed upon by the buyer and seller. The buyer's agent is paid once the deal goes through.
- Contingency- A clause in an agreement that keeps things from being legally binding unless a condition is met.
- Comparative Market Analysis (CMA)- Comparative market analysis is an examination of the prices at which similar properties in the same area recently sold. Real estate agents perform a comparative market analysis for their clients to help them determine a price to list when selling a home or a price to offer when buying a home.
- Equity- The difference between the home’s fair market value and the unpaid balance of the mortgage
- Home inspection- An inspection of a prospective home done by a paid professional, soon after an offer is made, to establish the structural and mechanical integrity of the house.
- Listing Agent- A listing agent is a real estate agent that helps homeowners sell their home. Listing agents list client homes on the MLS and negotiate the best possible price and terms for the home seller.
- MLS- Multiple Listing Service is an organization that collects and distributes home sale information to real estate agents
- Title- A legal document evidencing a person's right to or ownership of a property
It can be difficult to navigate through the Real Estate process, but we can help! This is what we do.