All Real Estate Terms Articles

A buyer’s agent is a real estate professional who is legally licensed to represent the buyer’s interests in a real estate transaction. Buyer’s agents search for properties, schedule showings, and negotiate contracts on behalf of homebuyers. Plus, there is no additional cost, as the buyer’s agent receives a commission from the sale price. When buying…

Real estate economics is the application of economic principles to real estate markets. This is affected by the people involved in real estate, such as owners and developers, as well as macroeconomic forces like supply and demand. Specifically, real estate markets are affected by factors like demographics, interest rates, government policies, and the overall economy….

A real estate appraisal is a report by a certified inspector that determines the value of a property based on its features and condition. Buyers compare this value to the home price to ensure there is not a large discrepancy. Appraisals are also required by lending institutions to secure loans for the purchase of property….

Homeowners’ association (HOA) fees are dues collected from homeowners within an HOA to assist residents with maintenance and help cover HOA operation and other expenses shared by members. On average, fees range from $100 to $700 per month but vary depending on community size, number of common areas, and amenities managed by the HOA. If…

A leaseback, or a sale-leaseback, occurs when the seller of a home remains a renter in the property after the close of the sale. This gives sellers more time to move or provides immediate income to a real estate investor. Parties should formalize leaseback terms in an official agreement, including rent, duration, and maintenance responsibilities….

A homeowners’ association (HOA) is the organization in a planned community, subdivision, or condominium complex that maintains common areas through the creation of rules and regulations, which can help protect and improve property values. To subsidize these efforts, HOAs collect fees from homeowners that cover maintenance, landscaping, utilities, and other community expenses. An HOA’s rights…

Escrow is a state-specific process where buyers and sellers deposit documents and funds with a neutral third-party until contract conditions are met. This is commonly used in real estate transactions. After opening an escrow account, the buyer’s earnest money is deposited and parties work to meet contract requirements with oversight from the third-party escrow company….

An estate in land represents an individual’s current or future ownership interest in a piece of real estate. The four major types of estate in land are freehold, leasehold, concurrent, and equitable estates. Each type dictates specific rights that can affect a property’s overall value, such as the ability to earn income off the property….