Home Buying Realtor Apple Tree Mill Creek

Home Buying Realtor Apple Tree Mill Creek

 

Home buying can be overwhelming for newcomers to the homebuying process. Even for seasoned homebuyers, real estate lingo can be a bit confusing. This is because there are a lot of terms used during the purchasing and selling process that isn't always used in daily life. Oftentimes, even experienced, cheap real estate agents Apple Tree Mill Creek say, “Wait, what does that mean?”

This glossary contains terms you should know to make your home buying experience easier.

• Buyer's agent. 

A real estate agent who represents only the buyer in the purchase transaction. He/she is also known as Home Buying Realtor Apple Tree Mill Creek.

 

• Appraisal. 

The process of determining the value of a property. The appraiser is an independent third party who evaluates the subject property and determines its value as of a certain date by comparing it to similar properties that have recently been sold in the area.

 

• Assessment Lien. 

A tax lien placed against your property when you do not pay local property taxes due to the city or county in which you live and own real estate.

 

• Credit Report. 

A report prepared by a credit bureau that includes information about your credit history; including current outstanding loans, credit accounts, and inquiries into your credit history (e.g., applications for new loans).

 

• Mortgage

A mortgage is a loan secured by real property. The property or house serves as collateral for the loan. If you fail to repay your mortgage, the bank can repossess your home and sell it to pay off the debt.

 

• Closing costs. 

Closing costs are the expenses involved in buying or selling property, including title insurance, attorney fees and transfer taxes (in some states).

 

• Down Payment

The amount of money put down on the purchase price of the property. In some cases, the down payment is required in order to qualify for financing. 

 

• Seller's Title Policy

A type of insurance that protects the seller against potential losses caused by defects in title. 

 

• Title

The ownership of a specific tract of land; the document stating that ownership.

 

• Real Property

Land and anything which is attached to it, including buildings, crops, trees, fences, etc.

Every step of the process has its own unique vocabulary, from the offer all the way through the final closing. Of course, even beyond that, there are a ton of acronyms for just about everything in real estate. But if you can stay abreast of them and keep them straight, you’ll be well on your way to a smooth home buying process.

No matter your experience with home buying, it’s important to know the ins and outs of real estate terminology. This will save you time and money in the transaction, as you’ll be more familiar with the lingo that’s flying around. If ever you are in search of buy house tips Apple Tree Mill Creek, contact a home buying realtor Apple Tree Mill Creek.

 

Darren and Gwen Munson are cheap real estate agents located Apple Tree Mill Creek. They specialize in finding the right home for their customers and have a wealth of experience in the industry. Darren and Gwen are extremely knowledgeable about the Apple Tree Mill Creek area and can help their clients find the perfect home for their needs. In addition, they are very personable and easy to work with, which makes the home buying process much less stressful. If you are looking for a Cheap real estate agents Apple Tree Mill Creek, Darren and Gwen Munson are the people that can help. Call these cheap real estate agents Mill Creek today at 425-338 9400 or visit their website www.munsonhomes.com today!

 

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