Think you Know Your Real Estate Lingo?

The world of real estate comes with its very own language. If you have recently bought or sold your home, or are think about doing so, test your real estate lingo skills! -brought to you by Claudia S. Nelson

Created by Translated by Claudia S. Nelson on February 21, 2018

Original Article by

Created by Translated by Claudia S. Nelson on February 21, 2018

Original Article by

Calculating...

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01 All of the miscellaneous expenses paid by the buyer and the seller when the real estate deal closes.

02 An agreement between a real estate broker and a home owner that allows the broker to market and arrange for the sale of the owner's home.

03 An insurance policy that protects a lender's or owner's interest in real property from assorted types of unexpected or fraudulent claims of ownership.

04 A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met.

05 A report that shows prices of homes comparable to a subject home and that were recently sold, are currently on the market or were on the market but not sold within the li

06 A mortgage loan in which the interest rate is not fixed but instead is adjusted at specific intervals during the life of your loan.

07 A number that represents the total cost of a loan as a percentage, which allows you to compare total loan costs when deciding on a mortgage loan.

08 Insurance protecting the mortgage lender against loss if a borrower defaults on a loan and is required for borrowers of conventional loans with a down payment < 20%.

09 The ratio of the amount of money borrowed over the appraised value of the home, expressed as a percentage.