Real Estate Terminology 101
Are you about to begin looking for a home? Maybe you are completely unfamiliar with the "lingo" used by real estate professionals and in real estate websites? Don't worry; we are here to give you a bit of a cheat sheet and to help you know exactly what to say, and what is being said, as you navigate your way through the world of real estate.
To keep it easy, let's look at the terms in alphabetical order:
Appraisal - This must be done by a qualified professional, and it is meant to give a very accurate estimate of the market value of any type of real estate property;
Closing costs - Firstly, the "closing" is the moment when all of the final documents relating to the house are signed and the official "deal" is…