DICTIONARY OF REAL ESTATE TERMINOLOGY THAT WILL LET YOU SPEAK WITH CREDITABILITY
Need to sound creditable?
Real estate terminology gives you the confidence to present your offer and get the deal.
Talk with power by using the correct real estate terminology to convey your message.
Never again will other professionals in the deal be able to talk over your head.
Find out what they are saying and join in too.
A formal bid from the home buyer to the home seller to purchase a home.
When the seller’s real estate agent opens the seller’s house to the public. You don’t need a real estate agent to attend an open house.
Original Principal Balance:
The total amount of principal owed on a mortgage before any payments are made.
A fee paid to a lender or broker to cover the administrative costs of processing a loan application. The origination fee typically is stated in the form of points. One point is one percent of the mortgage amount.
A transaction in which the property seller provides all or part of the financing for the buyer’s purchase of the property.
Owner Occupied Property:
A property that serves as the borrower’s primary residence.
Real Estate Terminology O to First Deals