Glossary

Terms to Know

  • An assessment conducted by a licensed professional estimating the fair market value of a home. Appraisals are typically requested by a lender in order to secure a loan for a property.

  • A sum of money that is agreed upon by the buyer and seller which will act like a deposit on a home following an offer being accepted.

  • The end of the real estate transaction. All documents will be signed and the deal will be complete. Closing is not synonymous with taking possession of the home; the contract will determine the date that the buyers will take possession of the home.

First Time Home Buyers

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First Time Home Buyers

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