Glossary

Here are some commonly used terms in real estate that are important for buyers to understand: Buyer's agent - A licensed real estate agent who represents the buyer in a real estate transaction. Closing - The final stage of a real estate transaction, during which the title is transferred and the buyer takes possession of the property. Contingency - A condition in a real estate contract that must...

Here are some commonly used terms in real estate: Appraisal - The process of estimating the value of a property, usually for the purpose of buying or selling. Closing costs - The fees and expenses that must be paid at the time of the closing of a real estate transaction. Equity - The value of a property beyond any outstanding loans or debts on the property. Home inspection - An examination of...