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Real Estate Terms

Across
When both the buyer and seller agrees to all of the terms in a written contract.
A Document added to the Purchase and Sales Agreement that includes additional contract terms not included in the original contract.
A written and signed document from the buyer specifying the price and all other terms and conditions of the purchase of the property
An unbiased estimate of how much a home is worth.
A warranty purchased by the buyer or offered by the seller to protect you against most ordinary flaws and breakdowns for at least the first year of occupancy.
Represents both the buyer and the seller equally.
A document provided by the seller to a buyer that outlines known issues with a property and other historical details.
Refer's to a buyer's investigation of various aspects of a property within a specific timeframe between entering the contract and closing.
A home is under contract when a seller has accepted an offer from a buyer but the transaction has not yet closed.
A real estate agent who is a member of the National Association of Realtors and subscribes to its strict Code of Ethics.
An inspection report to find major damage or serious problems that require repair.
Usually, comprised of between 2-5% of the total purchase price.
Down
On the closing date, the property is legally transferred from the seller to the buyer.
Represent the best interest of the buyer.
The buyer and seller go back and forth in writing to obtain or reach an agreement or compromise.
Money paid to confirm a contract usually 1-2% of the homes total purchase price.
When an offer has been made and accepted, but certain criteria must be met before the finalized sale.
An estimate of how much you can afford to spend on a home.
A lender has checked your credit, verified your information, and approved you for up to a specific loan amount for a period of up to 90 days.
Prohibits discrimination and intimidation in housing.
Represent the best interest of the seller.