by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A person with power of attorney is allowed to execute legal documents on another person’s...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
Mortgage points are fees that are paid to the lender at closing in exchange for a lower interest rate. Usually, one point costs 1% of the...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
An offer is the amount of money that a buyer is willing to pay for the purchase of a property. This may be higher or lower than the listing...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
Earnest money is used to show that a buyer is serious about making an offer on a real estate sale. If the sale were to fall through, the seller typically returns the earnest money to the buyer. In some cases, some of that deposit may be used to cover cancellation...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
With a dual agency, a real estate agent represents both the buyer and the seller. If an offer is made on the property, both the buyer and seller must agree to dual representation. A benefit of dual agency is that this can streamline the process of the home...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A disclosure statement is a document provided by the seller that details any negative aspects of the property. This could include roof or foundation issues, pest problems, or mold, for example. The disclosure should also state any repairs or upgrades that you have...
