What exactly is Contract for deed? Glad you asked! A contract for deed, also known as a land contract, is an agreement between a buyer

What exactly is Contingent offer? Glad you asked! A contingent offer is an offer to purchase a property that is contingent on certain conditions, such

What exactly is Contingent fee? Glad you asked! A contingent fee is a fee paid to a lawyer or other professional only if a certain

What exactly is Contingency? Glad you asked! A contingency is a provision in a real estate contract that specifies certain conditions that must be met

What exactly is Conservation easement? Glad you asked! A conservation easement is a legal agreement between a property owner and a government agency or conservation

What exactly is Conforming loan? Glad you asked! A conforming loan is a mortgage loan that meets the guidelines set by Fannie Mae and Freddie

What exactly is Condominium? Glad you asked! A condominium, also known as a condo, is a type of housing where individual units are owned by

What exactly is Condo? Glad you asked! A condo, short for condominium, is a type of housing where individual units are owned by the residents,

What exactly is Conditional use permit (CUP)? Glad you asked! A conditional use permit, also known as a special use permit, is a permit granted

What exactly is Condemnation? Glad you asked! Condemnation is the process by which the government takes private property for public use, typically through eminent domain.

What exactly is Comparative market analysis? Glad you asked! A comparative market analysis, also known as a CMA, is an analysis of the sales of

What exactly is Comparative lease analysis? Glad you asked! A comparative lease analysis is a comparison of the lease terms and rental rates of similar

What exactly is Comparable sales? Glad you asked! Comparable sales, also known as comps, are recent sales of properties similar to the subject property that

What exactly is Comparable property? Glad you asked! Comparable property, also known as comp, is a property similar to the subject property that is used

What exactly is Community property? Glad you asked! Community property is a type of property ownership where all assets acquired during a marriage are considered

What exactly is Common law marriage? Glad you asked! Common law marriage is a type of marriage recognized in some states where a couple is

What exactly is Common area? Glad you asked! A common area is an area of a property or building that is shared by multiple tenants

What exactly is Commission split? Glad you asked! Commission split refers to the percentage of the commission earned by a real estate agent that is

What exactly is Commercial property? Glad you asked! Commercial property refers to real estate that is used for business purposes, such as office buildings, retail

What exactly is Collateralize? Glad you asked! Collateralize is the act of using an asset as collateral for a loan. Real-Life Example of Collateralize: A

What exactly is Collateral? Glad you asked! Collateral is an asset that is pledged as security for a loan, such as a property or a

What exactly is Code violations? Glad you asked! Code violations are violations of building codes or regulations that can result in fines or legal action.

What exactly is Co-op? Glad you asked! A co-op, short for cooperative, is a type of housing where the residents own shares in the corporation

What exactly is Cloud on the title? Glad you asked! A cloud on the title is a defect or claim on a property’s title that

What exactly is Closing statement? Glad you asked! A closing statement is a document that outlines all of the costs associated with a real estate

What exactly is Closing protection letter (CPL)? Glad you asked! A closing protection letter is a document issued by a title insurance company that protects

What exactly is Closing fees? Glad you asked! Closing fees are the fees charged by a closing agent for their services in a real estate

What exactly is Closing disclosure form? Glad you asked! A closing disclosure form is a standardized form used in real estate transactions that outlines all

What exactly is Closing disclosure? Glad you asked! A closing disclosure is a document that outlines all of the costs associated with a real estate

What exactly is Closing date? Glad you asked! The closing date is the date on which the buyer and seller complete the real estate transaction

What exactly is Closing costs? Glad you asked! Closing costs are the fees associated with a real estate transaction, including appraisal fees, title fees, and

What exactly is Closing contingency? Glad you asked! A closing contingency is a provision in a real estate contract that allows the buyer to cancel

What exactly is Closing agent fees? Glad you asked! Closing agent fees are the fees charged by a closing agent for their services in a

What exactly is Closing agent? Glad you asked! A closing agent is a person or company responsible for overseeing the closing process of a real

What exactly is Closing? Glad you asked! Closing is the final step in a real estate transaction where the buyer and seller sign all necessary

What exactly is Chattel? Glad you asked! Chattel is personal property that is movable and not fixed to the land, such as furniture, vehicles, or

What exactly is Chain of title? Glad you asked! Chain of title is a record of all the owners of a property over time, including

What exactly is Certificate of occupancy (CO)? Glad you asked! A certificate of occupancy is a document issued by a local government that certifies that

What exactly is Cash-on-cash return? Glad you asked! Cash-on-cash return is a ratio used to estimate the potential return on investment of a real estate

What exactly is Cash out refinance? Glad you asked! A cash-out refinance is a type of mortgage refinance where the borrower takes out a new

What exactly is Cash flow analysis? Glad you asked! A cash flow analysis is a financial analysis that tracks the inflow and outflow of cash

What exactly is Cash flow? Glad you asked! Cash flow is the amount of money that flows in and out of a business or property

What exactly is Capitalization rate (cap rate)? Glad you asked! Capitalization rate, also known as cap rate, is a ratio used to estimate the potential

What exactly is Capital improvement? Glad you asked! A capital improvement is an improvement or renovation made to a property or asset that is expected

What exactly is Capital gains tax? Glad you asked! Capital gains tax is a tax imposed on the profit earned from the sale of a

What exactly is Capital gain? Glad you asked! A capital gain is the profit earned from the sale of a capital asset, such as real

What exactly is Capital expenditure? Glad you asked! Capital expenditure is money spent on improving or enhancing a property or asset Real-Life Example of Capital

What exactly is Capital? Glad you asked! Capital refers to money or assets that are invested in a business or property with the expectation of

What exactly is Cap rate? Glad you asked! Cap rate, short for capitalization rate, is a ratio used to evaluate the potential return on investment

What exactly are CAM (Common Area Maintenance) charges? Glad you asked! CAM charges are fees paid by tenants in commercial leases to cover the maintenance

What exactly is Buyer’s market? Glad you asked! A buyer’s market is a real estate market where there are more properties for sale than there

What exactly is Buyer’s agent? Glad you asked! A buyer’s agent is a real estate agent who represents the interests of the buyer in a

What exactly is Buydown? Glad you asked! A buydown is a payment made by a borrower to a lender to reduce the interest rate on

What exactly is Building permit? Glad you asked! A building permit is a document issued by a local government that allows a property owner to

What exactly is Building line? Glad you asked! The building line is a set distance from the street or property line that dictates where a

What exactly is Building envelope? Glad you asked! The building envelope is the physical separator between the interior and exterior of a building, including walls,

What exactly is Building codes inspector? Glad you asked! A building codes inspector is a professional who is responsible for enforcing building codes and ensuring

What exactly is Building code? Glad you asked! Building code is a set of standards and regulations that dictate the design, construction, and safety of

What exactly is Broker? Glad you asked! A broker is a person or company that facilitates the buying and selling of real estate, typically acting

What exactly is Bridge loan? Glad you asked! A bridge loan is a short-term loan used to finance the purchase of a property before the

What exactly is Breach of contract? Glad you asked! A breach of contract occurs when one party fails to fulfill their obligations under a contract

What exactly is Bond? Glad you asked! A bond is a type of debt security issued by a company or government entity that pays interest

What exactly is a Blanket mortgage? Glad you asked! A blanket mortgage is a type of mortgage loan that covers multiple properties or assets under

What exactly is Blanket insurance? Glad you asked! Blanket insurance is a type of insurance policy that covers multiple properties or assets under a single

What exactly is Bill of sale? Glad you asked! A bill of sale is a legal document that serves as proof of sale or transfer

What exactly is Bill of lading? Glad you asked! A bill of lading is a legal document that serves as proof of shipment of goods

What exactly is Betterment? Glad you asked! Betterment is an improvement or enhancement made to a property or asset that increases its value. Real-Life Example

What exactly is Beneficiary? Glad you asked! A beneficiary is a person or entity that receives the proceeds of a will, trust, or life insurance

What exactly is Balloon payment mortgage? Glad you asked! A balloon payment mortgage is a type of mortgage loan that includes a large payment due

What exactly is Balloon payment? Glad you asked! A balloon payment is a large payment due at the end of a loan term, typically associated

What exactly is Balloon mortgage? Glad you asked! A balloon mortgage is a type of mortgage loan where the borrower makes small monthly payments for

What exactly is Attachment? Glad you asked! An attachment is a legal process that allows a creditor to seize or claim a debtor’s property as

What exactly is Assumable mortgage? Glad you asked! An assumable mortgage is a type of mortgage loan that can be transferred from the seller to

What exactly is Assignor? Glad you asked! An assignor is a person or entity that transfers a legal right or interest in a property or

What exactly is Assignment? Glad you asked! An assignment is the transfer of a legal right or interest in a property or asset from one

What exactly is Assignee? Glad you asked! An assignee is a person or entity that receives the rights or benefits of a contract or property

What exactly is Assessed value? Glad you asked! Assessed value is the value of a property as determined by a government assessor for tax purposes.

What exactly is As-is? Glad you asked! As-is is a term used in real estate transactions to indicate that the property is being sold in

What exactly is Arbitration? Glad you asked! Arbitration is a legal process used to resolve disputes outside of court. The parties involved agree to submit

What exactly is Appurtenance? Glad you asked! An appurtenance is a right or privilege that is attached to a property and is conveyed with the

What exactly is Appreciation? Glad you asked! Appreciation is the increase in value of an asset over time. Real-Life Example of Appreciation: Alex purchased a

What exactly is Appraised value? Glad you asked! Appraised value is the estimated market value of a property as determined by a licensed appraiser. Real-Life

What exactly is Appraisal contingency? Glad you asked! An appraisal contingency is a provision in a real estate contract that allows the buyer to back

What exactly is Appraisal? Glad you asked! An appraisal is an assessment of the value of a property or asset conducted by a licensed appraiser.

What exactly is Amortization schedule? Glad you asked! An amortization schedule is a table that shows the breakdown of each loan payment, including the amount

What exactly is Amortization? Glad you asked! Amortization is the process of paying off a debt over time through regular payments that include both principal

What exactly is Amenity? Glad you asked! An amenity is a feature or benefit of a property or location that adds value or enhances quality

What exactly is Alienation clause? Glad you asked! An alienation clause is a provision in a mortgage or deed of trust that allows the lender

What exactly is Agent? Glad you asked! An agent is a person or company authorized to act on behalf of another person or entity, typically

What exactly is Adverse possession? Glad you asked! Adverse possession is a legal doctrine that allows a person to gain ownership of a property through

What exactly is Adjustable rate mortgage (ARM)? Glad you asked! An adjustable rate mortgage is a type of mortgage loan where the interest rate can

What exactly is Adjoining property? Glad you asked! Adjoining property is property that is directly adjacent to or neighboring another property. Real-Life Example of Adjoining

What exactly is Addendum? Glad you asked! An addendum is an attachment or supplement to a contract or agreement that modifies or clarifies the original

What exactly is Ad valorem tax? Glad you asked! An ad valorem tax is a tax based on the assessed value of real estate or

Accessory Dwelling Unit What is it? Glad you asked! An accessory dwelling unit, also known as an ADU, is a secondary residential unit located on

What exactly is Acceleration clause? Glad you asked! An acceleration clause is a provision in a loan agreement that allows the lender to demand full

What exactly is Accelerated depreciation? Glad you asked! Accelerated depreciation is a method of calculating the value of an asset for tax purposes. It allows

What exactly is Abatement? Glad you asked! An abatement is a reduction or elimination of a tax, fine, penalty, or other obligation. It can also