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Weekly Word Wizard

Welcome back to RealtyMyths Weekly Real Estate Word Wizard! Here are some terms that you should know. Arms-length transaction — Both parties to a transaction are acting in their own self-interest. Neither party is pressured by or acts in connection with the other to assure the fair market value of th...Read More

Weekly Word Wizard

Welcome back to RealtyMyths weekly real estate word wizard! Here are some terms that you should know before buying your first home. Earnest money deposit — A partial payment by a buyer when submitting a contract that demonstrates the buyer’s commitment to the deal. The money, which is held in an escr...Read More

RealtyMyths Weekly Word Wizard

Welcome back to RealtyMyths word Wizard! Let’s talk about some real estate terms. Title Insurance: Compensates the buyer or lender if title defects, liens or competing claims of ownership on a property arise after closing. Rate Lock: An agreement between a borrower and a lender that allows the ...Read More

Weekly Word Wizard

Welcome back to RealtyMyths word wizard! Let’s talk about some real estate terms that confuse you. Sublease – Lease or rent all or part of to another person. Easement– The privilege of using something that is not your own. Lease – A contract granting use or occupation of the p...Read More

Weekly Word Wizard – Property Listings

Welcome back to Weekly Word Wizard! This week, we will discuss about property listings. Property listings MLS (Multiple Listing Service): Distributes local and regional listing information on a website for real estate agents and brokers. Listing: The actual property being sold or a contract establish...Read More

Weekly Word Wizard – Disclosure

Welcome back to weekly word wizard ! This week, we will discuss about Disclosure. Disclosures Disclosure and Informed Consent: Establishes the relationship between client and agent in writing, and discloses the agent’s ties to a broker or agency. Property Condition Disclosure Form: The seller produce...Read More

Weekly Word Wizard – Terms used in Contract Preparation

Welcome back to Weekly Word Wizard ! This week, we will talk about the terms used in Contract Preparation. Contract preparation • Conditions: Items included in a contract that create a legal obligation which, if unmet, would cause the contract to be null and void. • Contingency: Contingencies create ...Read More

RM Weekly Word Wizard – Terms Used In Property Purchase

Welcome back to Weekly Word Wizard ! This week we will talk about the terms used in Property Purchase. Offer: The price the buyer offers to pay the seller. If it’s accepted, the seller’s legal team drafts the sales contract. Counteroffer: If the seller rejects an offer, the buyer can make a counterof...Read More

Weekly Word Wizard: What is ‘Carpet Area’

Welcome back Folks! Today we will discuss about ‘Carpet Area’. We believe this is one of the most talked about term in the real estate market and is often confused with BuiltUp Area and Super Area. Carpet Area is the area that is enclosed within the walls and where you can actual lay the ...Read More

Covenant

A covenant is a type of agreement that works contract in which the covenantor makes a promise to a covenantee to do (affirmative covenant) or not do some action (negative covenant). In real property law, the term real covenants is used for conditions tied to the use of land. A “covenant running...Read More

Affordable Housing

Affordable housing is a housing unit which is available or can be accessed to those section of society whose income is below median household income. The rate of affordable housing is increasing day by day.

Assessed Valuation

An assessed value is the dollar value assigned to a property to measure applicable taxes. Assessed valuation determines the value of a residence for tax purposes and takes comparable home sales and inspections into consideration. It is the price placed on a home by the corresponding government munici...Read More

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