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The date a contract is signed by the Seller, accepting the Buyer’s offer.
The Annual Percentage Rate (APR) is the yearly rate of interest that an individual must pay on a loan, or that they receive on a deposit account. APR is used on everything from mortgages and car loans to credit cards. Ultimately, APR is a simple percentage term used to express the numerical amount paid by an individual or entity yearly for the privilege of borrowing money. (Source)
An appraisal focuses on determining the market value of the home. The value is based on various factors, including the cost of similar homes in the area. (Source)
An assessor is a local government official who determines the value of a property for local real estate taxation purposes. The figures assessors derive are used to calculate future property taxes. (Source)
An assessor is a local government official who determines the value of a property for local real estate taxation purposes. The figures assessors derive are used to calculate future property taxes. (Source)
In real estate, an as-is property is one that’s listed for sale in its current state, meaning that any issues or problems with the home will not be addressed by the seller. (Source).
A real estate broker, real estate agent, or realtor is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state’s laws of agency, and many states require written disclosures to be signed by all parties outlining the duties and obligations. (Source)