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Designated agent
Having a designated agent ensures that confidential client information remains separated. In this instance, one agent works with a broker, and one...
Deed
A deed establishes that a person is the legal owner of a property. When a property is sold, the deed will be transferred to the new owner.
Contract
A contract is a formal agreement put in place during a real estate transaction. The contract begins when a buyer makes an offer, and both the buyer...
Contingencies
Contingencies are clauses built into the contract that allow a buyer to back out of the sale if specified conditions are not met. For example, a...
Comparables
Comparables, or comps, are simply similar properties in the nearby area. Real estate agents will pull a list of comps for many reasons. These comps...
Comparative market analysis
Comparative market analysis, or CMA, is an analysis of similar homes sold in an area during a specified time period. The CMA will help to give a...
Closing costs
Closing costs are fees that must be paid prior to the sale of a home. Usually, the fees include insurance fees, legal costs, and escrow fees. The...
Closing
Closing is the final step in the real estate transaction. Depending on the type of sale, there will be paperwork that needs to be completed in order...
Cash to close
Banks charge fees for setting up a mortgage loan. During a traditional real estate purchase, a buyer must come up with a lump sum of money to...
Cash reserves
Cash reserves are the money that is set aside to cover unexpected costs. If a roof or foundation of a home needed repairs, a cash reserve fund would...