by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
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 date will be listed on the purchase...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
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 to formalize the sale. Cash purchases cut down on all of the paperwork, and streamline the process. A closing agent...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
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 finalize the sale. This money will be allocated to covering the cost of fees from a home appraisal, escrow costs, and legal...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
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 be used to help cover the...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A buyer’s agent can help a homebuyer by representing their interest in a real estate transaction. A buyer’s agent’s main purpose is to help a buyer purchase a...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A real estate broker is someone who oversees the transactions that occur during a real estate purchase. A broker with experience and knowledge of the local area, including schools and community functions, as well as real estate laws, can help facilitate transactions...
