When It Comes to Real Estate Lingo Few of Us are Native Speakers - Air Jordans 2by Lucy Mr lucys
His list winds up being pretty exotic, but the advice is excellent Air Jordans 2. Don't allow the real estate process to simply wash over you.
When you hear a phrase like depreciation -- the decrease in value of properties as they age -- and you don't understand how it's being used in context, don't do anything until you do understand Air Jordans 7. Real estate agents don't just show properties.
They represent buyers and sellers in the complicated business of property transfer Air Jordans 10. Part of their function is to explain that transfer and to guide you through the process to your satisfaction.
** Use Available Online Tools ** The Internet puts powerful tools at your disposal to understand all the vocabulary of a real estate transaction Air Jordans 2011. Two good sites for this purpose are: - realestateabc.
com - realestatewords.com Here's a comparison of how the two sites define another key term, escrow. - An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the earnest money deposit is put into escrow until delivered to the seller when the transaction is closed. (realestateabc.com) - An arrangement for the deposit of instruments and/or the handling of funds with instructions with a neutral third party to carry out the provisions of the agreement or contract when the specified conditions have been met.Informally short form to describe Escrow Agent Escrow Account or Escrow Period. E.g. Escrow (Agent) works closely with agents to close a transaction. The buyer deposits funds into Escrow (Account). Escrow (Period) is 30 days. (realestatewords.com) Pretty big difference, huh It makes a good point. There's always more than one way to explain something. If you don't understand a term or concept on the first pass, keep looking until you find a definition that comes from an angle you can grasp. Don't just assume that you're being stupid. Everyone learns in different ways. Never be afraid to admit to yourself or to your agent that you just dont get it. ** It's Okay to Be in a Foreign Land ** For most of us, real estate transactions are foreign territory. Rarely is buying or selling a home something we do often.
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