Buying and selling a home is a confusing process, full of baffling terminology that makes you wonder what you’re really signing up for. This quick list of some common real estate definitions might be a handy reference sheet for you to take along the next time you are out looking for houses.
Amortization: length of time over which your mortgage will be paid.
Appraisal: process of estimating the value of a property, done by an appraiser - a professional skilled in appraisals.
Closing costs: costs that you pay on the close of the home, which can include legal fees, land transfer tax and more.
Counter offer: when you original offer is not accepted, you may give a second offer with amended conditions.
Curb appeal: how the home looks from the…