Navigate real estate with ease using Penzone Realty’s Glossary. Find clear definitions and explanations for essential real estate terms and concepts.
- Acceleration Clause
- Adjustable-rate Mortgage (ARM)
- Adjustment Date
- Amortization
- Appraisal
- Appraisal contingency
- As-is
- Backup offer
- Blind offer
- Buyer’s agent vs. listing agent
- Closing
- Closing costs
- Conventional sale
- Covenants, conditions & restrictions (CC&Rs)
- Days on market (DOM)
- Debt-to-income (DTI) ratio
- Due diligence
- Earnest money deposit (EMD)
- Equity
- Escrow holder
- FHA 203k rehab loan
- FHA loans
- Fixed-rate mortgage
- Hard money loan
- Homeowner’s association (HOA)
- Home sale contingency
- iBuyer
- Inspection
- Inspection contingency
- Land lease
- Loan contingency
- Mortgage pre-approval letter
- Multiple listing service (MLS)
- Natural hazards disclosure (NHD) report
- Offer/counter offer
- Option period (Texas only)
- Pre-approval
- Preliminary report
- Principal
- Probate sale
- Proof of funds
- Purchase and sale agreement (PSA)
- Real-estate owned (REO)
- REALTOR®
- Rent-back
- Seller concession
- Seller disclosure
- Short sale
- Subject to inspection
- Tenancy in common (TIC)
- Termite report
- Title search
- Trust sale
- VA loan
This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice. Opendoor always encourages you to reach out to an advisor regarding your own situation.
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