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Real Estate Glossary

What Does Escrow Mean and How Does It Work in Real Estate?

During a transaction that requires a substantial amount of money, like a real estate purchase, it's essential to trust the person on the other side of the deal. The concept of escrow can help minimize risk during these large transactions and allow buyers and sellers...
What Does Under Contract Mean in Real Estate?

What Does Under Contract Mean in Real Estate?

When Yogi Berra said a baseball game wasn’t over until it was over, he meant that even as much as a team might be down or up in runs, the game wasn’t over until the last pitch was made. This also applies to the real estate term “under contract.” Under contract in real...

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What is a Patio Home?

What is a Patio Home?

You may have seen the term “patio home” when looking at real estate and have probably wondered what it is.  Well, in the United States, that means it’s a single family home that doesn’t necessarily need to have a patio. In fact, many don’t. How is that possible?...

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What is a Mortgage Pre-Approval?

What is a Mortgage Pre-Approval?

If you talk to anyone in the real estate industry about buying a home, one the first things you’ll hear is “have you gotten a mortgage pre-approval”. If you are a serious home buyer, it’s imperative that you get this because it shows sellers that it’s possible for you...

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What’s the Difference Between a Title and a Deed?

What’s the Difference Between a Title and a Deed?

In real estate, many people use the term deed and title as if they are the same thing. But in reality, while they are related, they are not the same thing at all.  Definition differences: deed versus title During the home buying process, a deed is a legal...

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What is FSBO? Know This Beforehand

What is FSBO? Know This Beforehand

So perhaps you’ve been thinking about selling your house, but you don’t want to pay thousands in commissions. Or perhaps, you’re searching for a new home online and keep running across the term “FSBO.” Here is what you need to know.  What does FSBO stand for? FSBO,...

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What is a Home Appraisal?

What is a Home Appraisal?

When buying or selling a property, a home appraisal is a critical step of the process.  But what is a home appraisal anyway?  Quite simply, a home appraisal is a licensed appraiser’s unbiased opinion (and comprehensive report) of a property’s market value based on...

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What Is an ADU? Things to Know

What Is an ADU? Things to Know

Accessory dwelling units (ADUs) have grown in popularity as home prices rise along with the cost of living. Accessory dwelling units are helping people adapt to these trends by allowing them to share common living spaces with other people. Before building an ADU, it’s...

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What Is A Probate Sale? The Basics

What Is A Probate Sale? The Basics

Probate sales can provide unique opportunities to buy a home for less money, but they tend to me more complicated than a traditional real estate transaction because they involve a long and drawn out process. A buyer looking to buy a house in probate will need to...

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What Is a Sheriff Sale?

What Is a Sheriff Sale?

As the name might suggest, a sheriff sale is a court-ordered sale of property, if the property owner is unable to make good on paying for that property.  A sheriff sale is a public auction where property, in real estate obviously this is typically a house, is...

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How to Find Your Property Line – Complete Guide

How to Find Your Property Line – Complete Guide

It might seem obvious when you first move in where your property lines are. You can see the fence, you can see the garage, you can see the backyard, and so on. But that ain’t necessarily so. And that said, figuring out where your property lines are can help keep your...

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What is an Open House?

What is an Open House?

Driving through your neighborhood, you may have seen a sign for an open house. But have you ever wondered what exactly it is? Quite simply, it's when a seller, well, opens their house, and invites potential buyers into the property. Open houses for buyers When people...

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Party Wall Agreement – What is It and Why is It Important?

Party Wall Agreement – What is It and Why is It Important?

We’re sorry to say that party walls aren’t walls where parties are hosted, so you can stop worrying about when you need to supply the wine. Unfortunately, the definition is way more boring than that, even though sometimes, late at night, when you’re trying to sleep,...

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Realtor vs Real Estate Agent- What is the Difference?

Realtor vs Real Estate Agent- What is the Difference?

If you’re considering buying or selling a home, unless you are doing a For-Sale-By-Owner, you will most likely want someone to help you through the real estate transaction process. But, who should you turn to? A real estate agent or a realtor?  Are all licensed real...

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What Does Active Contingent Mean?

What Does Active Contingent Mean?

If you're searching for a new house online, you've probably seen a lot of industry lingo which can get confusing. From active to pending to contingent, you've probably seen it all. But really, what does active contingent mean? When a property is marked as contingent,...

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What is a Chef's Kitchen?

What is a Chef's Kitchen?

A chef’s kitchen is  not only created to maintain functionality, but they are also quite aesthetically pleasing. The sleek surfaces are designed using high-quality stainless steel. The countertops are often made of attractive black marble, or perhaps granite,...

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What is a Man Cave Anyway?

What is a Man Cave Anyway?

According to the great and powerful internet dictionary, a man cave, manspace, manland or mantuary is “a room or other part of a home regarded as a refuge for the man of a household.” It's a male retreat or sanctuary in a home that uses a particular room such as a...

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What is a Tiny House?

What is a Tiny House?

It’s no surprise that tiny homes are growing in popularity. So what’s the big, er small deal? What is a tiny house anyway? Why are they growing more and more popular? Are they a good investment? On the downsize Put simply, people all over are choosing to downsize,...

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What is a Crawl Space?

What is a Crawl Space?

When people are looking to buy a new home, they rarely consider what is under their feet. However, it is vital to know about what’s below the surface of homes, especially when you're standing on top of a crawl space. But what is a crawl space? Simply speaking, a crawl...

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What Is a Murphy Bed?

What Is a Murphy Bed?

If you're living in a tiny home or trying to make a room multipurpose, a Murphy Beds may be the answer you're looking for! In living quarters where every little inch matters, you often have to get creative about how to use space. One option could be a Murphy Bed. A...

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What is a Half Bath?

What is a Half Bath?

If you in the market for a new home, you've probably built some filters or search criteria. In the listings you're reviewing, you'll often see the term half bath or a .5 by the number of bathrooms. Most likely, the number of bedrooms and bathrooms is probably a pretty...

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What is a Wet Bar?

What is a Wet Bar?

If you love entertaining, there have probably been times when you wished you had a dedicated space in your home or a man cave to mix up some adult beverages. Many people wish they had a bar in their home to make entertaining easier. Quite simply, a wet bar is an...

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What is a Dry Bar?

What is a Dry Bar?

You've heard the term before, but do you really know what is a dry bar and what's a wet bar? And, more importantly, what the heck is the difference between the two? Isn't a bar a bar? Ultimately, both are for the purpose of making entertaining more convenient.  So...

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Are Mansions Just Really Big Houses?

Are Mansions Just Really Big Houses?

The idea of a mansion invokes a vision of lush gardens, intricate architecture, luxurious furnishings, and a hefty price tag. But is that really the case or are Mansions just really big houses? The dictionary defines mansion as just “a large imposing residence.” It's...

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A Seller’s Property Disclosure Statement can intimidating for some home sellers, but it shouldn't be. Take a deep breath and realize how easy it is to just state the facts and nothing but the facts on this and other sellers disclosure forms. You’ll see that...

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