Unlock Ultimate Success: Master Common Terms with Our Comprehensive Real Estate Glossary!
Abatement
Accelerated depreciation
Acceleration clause
Accessory dwelling unit
Acquisition cost
Ad valorem tax
Addendum
Adjoining property
Adjustable rate mortgage (ARM)
Adverse possession
Agent
Alienation clause
Amenity
Amortization
Amortization schedule
Appraisal
Appraisal contingency
Appraised value
Appreciation
Appurtenance
Arbitration
As-is
Assessed value
Assignee
Assignment
Assignor
Assumable mortgage
Attachment
Balloon mortgage
Balloon payment
Balloon payment mortgage
Beneficiary
Betterment
Bill of lading
Bill of sale
Blanket insurance
Blanket mortgage
Bond
Breach of contract
Bridge loan
Broker
Building code
Building codes inspector
Building envelope
Building line
Building permit
Buydown
Buyer’s agent
Buyer’s market
CAM (Common Area Maintenance) charges
Cap rate
Capital
Capital expenditure
Capital gain
Capital gains tax
Capital improvement
Capitalization rate (cap rate)
Cash flow
Cash flow analysis
Cash out refinance
Cash-on-cash return
Certificate of occupancy (CO)
Chain of title
Chattel
Closing
Closing agent
Closing agent fees
Closing contingency
Closing costs
Closing date
Closing disclosure
Closing disclosure form
Closing fees
Closing protection letter (CPL)
Closing statement
Cloud on the title
Co-op
Code violations
Collateral
Collateralize
Commercial property
Commission split
Common area
Common law marriage
Community property
Comparable property
Comparable sales
Comparative lease analysis
Comparative market analysis
Condemnation
Conditional use permit (CUP)
Condo
Condominium
Conforming loan
Conservation easement
Contingency
Contingent fee
Contingent offer
Contract for deed
Conventional loan
Conventional mortgage
Conveyance
Cooperative
Counteroffer
Covenant
Credit report
Curb appeal
Debt service coverage ratio
Debt-to-income ratio
Deed
Deed in lieu of foreclosure
Deed of trust
Deed restriction
Default
Defeasance clause
Deficiency judgment
Depreciation
Depreciation recapture
Down payment
Down payment assistance program
Dual agency
Dual tracking
Due diligence
Duplex
Earnest money
Earnest money deposit
Easement
Economic obsolescence
Eminent domain
Encroachment
Encumbrance
Encumbrance certificate
Environmental site assessment
Equity
Equity sharing
Equity skimming
Equity stripping
Escalation clause
Escrow
Escrow account
Escrow agent
Escrow fees
Eviction
Exclusive agency listing
Exclusive right-to-sell listing
Executor
Fair Credit Reporting Act (FCRA)
Fair Housing Act
Fair market rent
Fair market value
Federal Housing Administration (FHA)
Federal Reserve
Fee simple
FHA loan
Financing contingency
First mortgage
Fixed rate mortgage
Fixed-rate mortgage
Fixture
Flood insurance
Forbearance
Foreclosure
Fourplex
Freddie Mac
General warranty deed
Gentrification
Gift of equity
Good faith estimate (GFE)
Goodwill
Graduated lease
Grant deed
Gross income multiplier (GIM)
Gross leasable area (GLA)
Gross lease
Gross rent multiplier (GRM)
Hard money loan
Hazard insurance
Home equity
Home equity conversion mortgage (HECM)
Home equity line of credit (HELOC)
Home equity loan
Home inspection
Home inspection contingency
Home staging
Home warranty
Homeowner association (HOA)
Homeowner association assessment
Homeowner association fees (HOA dues)
Homeowner association legal fees
Homeowners insurance
Homeowners association board of directors
Homeowners association bylaws
Homeowners association documents
Homeowners association meeting minutes
Homeowners association reserve fund
Homeowners association special assessment
Homeowners insurance premium
Homestead exemption
House hacking
House poor
Housing bubble
HUD-1 settlement statement
Income approach
Inflation
Inheritance tax
Inspection contingency
Insurance deductible
Intangible tax
Interest
Interest-only mortgage
Internal rate of return (IRR)
Joint tenancy
Joint venture
Judicial foreclosure
Jumbo loan
Land contract
Landlord
Landlord-tenant laws
Lease
Lease agreement
Lease option
Lease renewal
Lease renewal options
Leasehold estate
Leasehold improvement
Legal description
Lessee
Lessor
Letter of credit
Letter of intent
Liabilities
Lien
Life estate
Listing
Listing agreement
Listing broker
Loan estimate (LE)
Loan origination fee
Loan servicing
Loan-to-value (LTV) ratio
Lock-in period
Margin
Market value
Marketable title
Marketable title insurance
Master plan
Mechanic’s lien
Mortgage
Mortgage affordability
Mortgage application
Mortgage assumption
Mortgage banker
Mortgage broker
Mortgage insurance
Mortgage loan origination
Mortgage note
Mortgage payment
Mortgage pre-qualification
Mortgage prepayment penalty
Mortgage rate
Mortgage servicer
Multi-family home
Multiple listing service (MLS)
National Association of Realtors (NAR)
Negative amortization
Net lease
Net operating income (NOI)
Non-conforming loan
Non-recourse loan
Offer
Offer letter
Open house
Open listing
Option
Option agreement
Owner financing
Ownership
Parcel
Park model
Partition
Payoff statement
Percentage lease
Personal guarantee
Personal property
Planned unit development (PUD)
Plottage
Point
Points
Power of attorney
Pre-approval
Pre-approval letter
Pre-foreclosure
Pre-payment penalty
Pre-qualification
Prepayment penalty
Principal
Principal balance
Private lender
Private mortgage insurance (PMI)
Private road maintenance agreement
Property appraiser
Property condition disclosure
Property easement
Property encroachment
Property flipping
Property inspection report
Property lien
Property line dispute
Property management
Property management agreement
Property management fees
Property manager
Property survey
Property surveyor fees
Property tax
Property tax abatement
Property tax assessment
Property tax rate
Property tax roll
Property tax year
Public auction
Purchase agreement
Purchase and sale agreement
Qualifying ratio
Quitclaim deed
Real estate agent
Real estate agent commission
Real estate appraisal
Real estate appraisal report
Real estate asset allocation
Real estate attorney
Real estate attorney fees
Real estate auction
Real estate broker license
Real estate bubble
Real estate bubble burst
Real estate capital gain
Real estate capital gains
Real estate capitalization
Real estate capitalization rate
Real estate closing attorney
Real estate commission
Real estate contract
Real estate contract assignment
Real estate contract contingencies
Real estate conveyancing
Real estate crowdfunding
Real estate deed transfer
Real estate depreciation
Real estate development
Real estate diversification
Real estate due diligence checklist
Real estate economics
Real estate equity
Real estate exchange
Real estate financing
Real estate flipping
Real estate investing
Real estate investing crowdfunding platform
Real estate investment advisor
Real estate investment analysis
Real estate investment club
Real estate investment company (REIC)
Real estate investment consultant
Real estate investment criteria
Real estate investment fund (REIF)
Real estate investment group (REIG)
Real estate investment partnership (REIP)
Real estate investment performance
Real estate investment planning
Real estate investment platform
Real estate investment portfolio
Real estate investment return
Real estate investment return on investment (ROI)
Real estate investment software
Real estate investment strategy
Real estate investment syndicate
Real estate investment trust (REIT)
Real estate investment trust (REIT) index
Real estate investment valuation
Real estate investor
Real estate joint venture
Real estate leasehold
Real estate leverage
Real estate license
Real estate lien release
Real estate liquidity
Real estate loan amortization
Real estate market
Real estate market analysis
Real estate market cycle
Real estate market trends
Real estate market value
Real estate note
Real estate note buying
Real estate partnership
Real estate partnership agreement
Real estate passive income
Real estate portfolio
Real estate portfolio diversification
Real estate portfolio management
Real estate portfolio performance
Real estate price-to-rent ratio
Real estate principal
Real estate professional fee
Real estate property cash flow
Real estate property equity
Real estate property management fee
Real estate property management software
Real estate property management system
Real estate property tax
Real estate property taxes deduction
Real estate purchase agreement
Real estate purchase contract
Real estate refinance
Real estate rent-to-own
Real estate rental contract
Real estate rental income
Real estate rental management
Real estate rental management software
Real estate return on equity
Real estate return on investment (ROI)
Real estate ROI calculator
Real Estate Settlement Procedures Act (RESPA)
Real estate syndication
Real estate syndication agreement
Real estate tax
Real estate tax abatement
Real estate tax assessment
Real estate tax assessment appeal
Real estate tax assessment protest
Real estate tax benefits
Real estate tax deduction
Real estate tax deferral
Real estate tax exemption
Real estate tax lien
Real estate tax lien investing
Real estate tax lien sale
Real estate tax lien transfer
Real estate taxes
Real estate title
Real estate title search
Real estate title transfer
Real estate transaction coordinator
Real estate transfer tax
Real estate trustee
Real estate valuation methods
Real estate wholesaling
Real estate yield
Real estate zoning
Real estate zoning change
Real estate zoning variance
Real property
Recession
Recourse loan
Refinance
Refinancing
Regene
Rent control
Rent control laws
Rent escalation clause
Rent stabilization
Rent-to-own
Rent-to-own agreement
Rent-to-own homes
Rental agreement
Rental application
Rental income
Rental property
Rental property cash flow
Rental property depreciation
Rental property management
Rental property management fees
Rental property mortgage
Rental property ROI
Rental property tax deductions
Residential lease agreement
Restrictive covenant
Right of first refusal
Right of way
Right of way agreement
Right to buy
Right to cure
Right to sell
Risk assessment
Road maintenance agreement
Sales contract
Second mortgage
Section 1031 exchange
Section 8 housing
Security deposit
Security deposit refund
Security deposit return
Security interest
Seller financing
Shared equity
Short sale
Short sale offer
Short-term rental agreement
Short-term rental platform
Simple interest
Single-family home
Special assessment
Special assessment district
Special warranty deed
Statute of frauds
Step-up in basis
Subdivision
Subject to mortgage
Sublease agreement
Subprime loan
Survey
Tacking
Tax abatement
Tax basis
Tax deed sale
Tax lien
Tax lien certificate
Tax lien foreclosure
Tax sale
Tax-deferred exchange
Tenancy
Tenancy at sufferance
Tenancy at will
Tenancy by entirety
Tenancy in common
Tenancy in severalty
Tenancy in trust
Tenant
Tenant improvement allowance
Tenant insurance
Tenant screening
Tenant-at-will
Tenant-in-sufferance
Tenants in common
Time is of the essence
Title
Title abstract
Title chain
Title company
Title company fees
Title contingency
Title defects
Title insurance
Title insurance commitment
Title search
Title search report
Townhouse
Transfer disclosure statement
Transfer tax
Triple net lease
Triplex
Trust
Trust deed
Trustee sale
Truth in Lending Act (TILA)
Turnkey property
Underwriting
Uniform Residential Loan Application (URLA)
Unimproved land
Use variance
Usury
Utility easement
VA appraisal
VA funding fee
VA loan
VA loan eligibility
VA loan limits
VA loan origination fee
VA loan pre-approval
VA loan rate
VA loan term
VA loan underwriting
VA mortgage
Variable rate mortgage
Vendor
Waiver
Walk-through
Walk-through inspection
Walkscore
Warranty deed
Warranty of habitability
Warranty of title
Wraparound mortgage
Wraparound mortgage loan
Yield
Zoning
Zoning board
Zoning regulations
Zoning variance
We’re not just a Real Estate Glossary… we’re a home buying company
Welcome to Ocean State Buyers, your trusted partner in the real estate industry. We are a professional home buying company based in Rhode Island, dedicated to providing a seamless, stress-free experience for homeowners looking to sell their properties. Our mission is to offer a hassle-free solution to homeowners who need to sell their homes quickly and efficiently, regardless of the condition or situation.
At Ocean State Buyers, we understand that selling a home can be a daunting task, filled with complexities and uncertainties. That’s why we’ve made it our goal to simplify the process, offering a fast, guaranteed sale to homeowners in a variety of circumstances. Whether you’re facing foreclosure, going through a divorce, or dealing with financial difficulties, we’re here to help.
As cash home buyers, we’re not just in the business of buying homes. We’re in the business of providing solutions, helping you navigate through your unique circumstances and offering a helping hand when you need it most. Stay with us as we delve deeper into who we are, what we do, and who we help.
We recognize that the urgency to sell varies among homeowners. While some seek a swift sale, others might prefer a more traditional approach. If you’re inclined towards the latter, we recommend reaching out to our sister company, Anchored Oak Realty. With their expertise in conventional real estate transactions, they’re well-equipped to assist you. Learn more about their offerings at Anchored Oak Realty.
Who We Are
Ocean State Buyers is a leading real estate solutions company based in Rhode Island. We specialize in buying homes for cash, offering homeowners a quick, efficient, and hassle-free way to sell their properties. Our team is comprised of experienced real estate professionals who are deeply committed to providing the highest level of service to our clients.
Our expertise lies in understanding the complexities of the real estate market and leveraging this knowledge to offer the best solutions to homeowners. We have a proven track record of helping homeowners navigate through challenging situations, offering them a lifeline when they need it most.
At Ocean State Buyers, we pride ourselves on our commitment to excellence. We handle everything from the paperwork to the closing costs, ensuring a smooth and stress-free experience for homeowners. We buy houses throughout the New England area, regardless of their condition or the circumstances of the homeowners.
As Cash Home Buyers, we are not just in the business of buying homes. We are here to help homeowners find the best solution for their unique circumstances. We understand that every situation is different, and we tailor our services to meet the specific needs of each homeowner.
Our commitment to our clients goes beyond the transaction. We strive to build lasting relationships based on trust, integrity, and mutual respect. We believe that by putting our clients’ needs first, we can make a positive impact on their lives and the communities we serve.
At Ocean State Buyers, we’re more than just a home buying company. We’re a team of professionals dedicated to making a difference. We’re here to help you navigate through your real estate journey, providing you with the support and guidance you need every step of the way.
What We Do
At Ocean State Buyers, we offer a comprehensive range of services designed to meet the diverse needs of homeowners. Our primary service is buying homes for cash, providing a quick and efficient solution for homeowners who need to sell their properties fast.
1. **Buying Homes in Any Condition:** We buy homes in any condition, from pristine to those that need a lot of love. Whether your home is in great shape, hasn’t been updated recently, or needs significant repairs, we’re ready to make a fair cash offer.
2. **Fast, Guaranteed Sale:** We understand that some homeowners need to sell their homes quickly due to circumstances like foreclosure, divorce, or financial difficulties. That’s why we offer a fast, guaranteed sale, providing homeowners with the certainty they need in uncertain times.
3. **Handling All Paperwork and Closing Costs:** Selling a home can involve a lot of paperwork and additional costs. At Ocean State Buyers, we handle all the paperwork and cover the closing costs, making the process as hassle-free as possible for homeowners.
4. **Offering Solutions for Various Situations:** We offer solutions for homeowners in various situations, including foreclosure, divorce, relocation, debt, downsizing, probate, job loss, and more. We understand that each situation is unique, and we tailor our services to meet the specific needs of each homeowner.
5. **Providing a Stress-Free Experience:** We strive to provide a stress-free experience for homeowners. From the initial contact to the closing, we guide homeowners through each step of the process, providing support and guidance along the way.
At Ocean State Buyers, we’re not just buying homes. We’re providing solutions. We’re helping homeowners navigate through challenging situations and offering a lifeline when they need it most. Whether you’re looking to sell your home quickly, avoid foreclosure, or find a solution to a challenging real estate situation, we’re here to help.
Who We Help
Ocean State Buyers is dedicated to helping a wide range of homeowners, each facing unique circumstances and challenges. Our services are tailored to meet the needs of:
Homeowners Facing Foreclosure:
If you’re facing foreclosure, we can help you avoid the negative impacts on your credit by buying your home quickly for cash.
Individuals Going Through a Divorce:
Divorce can be a stressful and emotionally draining process. We can ease some of this burden by offering a quick and hassle-free home sale process.
Homeowners Dealing with Financial Difficulties:
If you’re struggling with debt or sudden changes in income, selling your home for cash can provide the financial relief you need.
Homeowners Looking to Downsize:
If you own a house that’s too big and want to downsize, we can help you sell your current home quickly so you can move on to a home that better suits your needs.
Inherited Property Owners:
Inheriting a property can be overwhelming, especially if the property needs significant repairs or comes with financial obligations. We can buy your inherited property quickly, providing you with the cash you need.
Landlords Tired of Dealing with Problematic Tenants:
If you’re a landlord tired of dealing with non-paying or problematic tenants, we can buy your rental property as-is, relieving you of the stress and hassle.
Homeowners Needing to Relocate Quickly:
If you need to relocate quickly for a job or personal reasons, we can expedite the home selling process, allowing you to move on to your new location without the typical delays of a traditional home sale.
Homeowners Dealing with Job Loss:
A sudden job loss can force you to pivot quickly. We’re ready to buy your home and close within days, providing you with the financial resources you need during this challenging time.
At Ocean State Buyers, we understand that life can throw unexpected curveballs. Our goal is to provide a helping hand during these challenging times, offering a quick, efficient, and stress-free solution to your home selling needs. We’re here to help you navigate through your unique circumstances and find the best possible outcome.
What is a Cash Buyer?
A cash buyer in the real estate context is an individual or company that purchases properties outright, without needing to secure a mortgage or other financing. This method of buying is advantageous for both the buyer and the seller for several reasons.
For the buyer, purchasing a property with cash can often expedite the transaction process, as there’s no need to wait for mortgage approval. It also eliminates the risk of the deal falling through due to financing issues.
For the seller, a cash buyer can provide certainty and speed. When you sell to a cash buyer like Ocean State Buyers, you know that the sale is almost guaranteed to go through once the offer is accepted. There’s no worrying about the buyer being unable to secure a mortgage or backing out at the last minute.
Cash buyers also often buy properties “as-is,” meaning they’re willing to purchase homes in any condition. This can be a significant advantage for sellers whose properties need substantial repairs or updates.
Ocean State Buyers is a preferred cash buyer for many homeowners due to our commitment to providing a fast, hassle-free selling experience. We handle all the paperwork, cover the closing costs, and can close the sale quickly, providing homeowners with the peace of mind and the funds they need. If you’re looking to sell your house for cash in Rhode Island, there’s no need to look any further than Ocean State Buyers. We’re here to help you navigate your real estate journey, providing the support and guidance you need every step of the way.
Wrapping it up
In summary, Ocean State Buyers is a dedicated team of professionals committed to providing a seamless, stress-free home selling experience. We understand the unique challenges homeowners face when selling their homes, and we’re here to offer a helping hand. Whether you’re dealing with foreclosure, divorce, financial difficulties, or simply need to sell your home quickly, we’re here to help.
As a cash buyer, we offer a fast, guaranteed sale, buying homes in any condition and handling all the paperwork and closing costs. Our services are tailored to meet the needs of a wide range of homeowners, providing solutions that are both practical and beneficial.
We hope this glossary has provided you with a better understanding of who we are, what we do, and who we help. If you have any questions or if you’re ready to start the home selling process, don’t hesitate to reach out to us. At Ocean State Buyers, we’re more than just a home buying company – we’re your partner in your real estate journey.