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Real Estate Terms

Across
______ contract-a contract that shows both the buyer and seller of the home have agreed to an offer
____ rate-the interest rate you pay on the money you borrow to buy your house
____ letter- a letter from a family member stating that he/she has provided money to the purchaser that does not need to be repaid
____ payment-the amount a purchaser pays in cash for a property and does not finance with a mortgage
A legal document showing a person's right to or ownership of a property
A mortgage that is not guaranteed or insured by the federal government or one of its agencies
A written document conveying real estate from one party to another
A written promise to pay a specified amount under agreed upon conditions
A home that is for sale
For example, financing, inspections, sale of another home
A drawing showing the precise legal boundaries of a property
A response to a prospective buyer's initial offer by the seller
Down
An estimate of value of property from professional analysis
______ Area: Areas owned by an HOA that are used by all homeowners
A sum of borrowed money that is typically repaid with interest
_____ money-a good faith deposit with offer
The intrusion onto another person's property without right or permission
A right of a person to make use of another party's property
A thorough evaluation of the structural and mechanical condition of the property
An optional purchase by homebuyers that will cover repairs to certain items
A formal bid from from the home buyer to the home seller to purchase a home
An increase in the market value of a home due to changing market conditions and/or improvements
______ statement- a document that lists all closing costs on a consumer mortgage transaction
A meeting where the sale of a property is finalized