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Here are 15 real estate terms you need to know. Real Estate Agent. Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction. Agents are ...
Getty By Trulia Home-buying and selling is stressful — and with industry acronyms and real estate terms flying at you from all directions, you may feel overwhelmed navigating your new real ...
Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
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Typically, the real estate agent has the experience and data to determine a suitable listing price for the seller's property and will recommend a listing price to the seller. The seller can accept, reject, or try to negotiate a different listing price for the contract.
A typical real estate contract specifies a date by which the closing must occur. The closing is the event in which the money (or other consideration) for the real estate is paid for and title (ownership) of the real estate is conveyed from the seller(s) to the buyer(s). The conveyance is done by the seller(s) signing a deed for buyer(s) or ...
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“Real estate has been the best tool that I’ve found to make the average person wealthy, but it is hard work,” said Ryan Dossey, co-founder of SoldFast. “Real estate takes credit, capital ...