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Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
Real estate terminology can be confusing, especially for first-time homebuyers so it's crucial to understand the lingo before buying a home. Skip to main content. Sign in. Mail. 24/7 Help ...
They typically encourage buyers (or their real estate agents) to be at the inspection to discuss the findings in person and ask questions. It’s best to attend the inspection yourself, if possible.
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A buyer brokerage or buyer agency is the practice of real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller either directly or as a sub-agent. In the United Kingdom and Australia, the most common term is buying agent.
A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets.
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms:
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...