We wrote this glossary of terms to help you better understand real estate jargon. Going beyond just definitions, we give you examples, synonyms and links to other perspectives so you can put the lingo to good use in your home search.
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A
- Abnormal Transaction
- Absorption Rate
- Active
- Active Contingent
- Active - First Right
- Active Kick-out
- Active - No-Show
- Active Option Contract
- Active with Contingencies
- Addendum
- Adjustable Rate Mortgage
- Amenity
- Amortization
- Annual Percentage Rate
- APN
- Appraisal
- Appraiser
- Appreciation
- Arms-Length Transaction
- Assessment
- Assessor
- Assumable Mortgage
- Auction
- Average
B
- Backup Offers
- Balloon Mortgage
- Blue Ribbon School
- Bridge Loan
- Broker
- Broker Price Opinion
- Building Code
- Bumpable
- Bump Clause
- Buyer Agency
- Buyer's Agency Agreement
- Buyer's Agent
- Buyer's Market
C
- Cap
- Case-Shiller Index
- Cash-Out Refinancing
- Certificate of Occupancy
- Charter School
- Closing Costs
- Coalition of Essential Schools
- Comparables
- Comparative Market Analysis (CMA)
- Concessions
- Condo Lottery
- Condominium
- Conforming Loan
- Contingency
- Contingent
- Contingent Offer
- Conventional Loan
- Cooperative
- Correspondent lender
- Covenants, Conditions & Restrictions (CC&Rs)
- Credit Report
- Credit Score
- Cumulative Days on Market
D
- Days on Redfin
- Debt-to-Income Ratio
- Deed
- Deed-in-Lieu
- Default
- Department of Housing and Urban Development (HUD)
- Depreciation
- Discount Point
- Down Payment
- Dual Agency
E
- Earnest Money
- Easement
- Encroachment
- Equity
- Escrow
- Estate Sale
- Excise Tax
- Exclusive Agency
- Exclusive Listing
- Exclusive Right
- Expired
- Extracurricular Activities Rating
F
- Fair Housing Act
- Fair Market Value
- Fannie Mae
- Fed
- Federal Housing Administration
- Federal Housing Administration Loan
- Fee Simple
- Fiduciary
- Fixed Rate Mortgage
- Flipping
- Float Down
- Flood Insurance
- Foreclosed Home
- Foreclosure
- For-Sale-By-Owner (FSBO)
- Freddie Mac
G
H
- Home-Equity Line of Credit (HELOC)
- Homeowners Association
- Homeowners Association Dues
- Homeowner's Insurance
- Home Valuation Code of Conduct (HVCC)
- HUD-1 Settlement Statement
I
J
L
- Lien
- Lis Pendens
- Listing
- Listing Agent
- List Price
- Loan Commitment Letter
- Loan-to-Value Ratio (LTV)
- Lock-In (Rate Lock)
- Loss Mitigation
M
- Magnet School
- Median
- Mello-Roos
- Months of Supply
- Mortgage Broker
- Mortgage Fees
- Mortgage Insurance
- Mortgage Lender
- Mortgage Loan
- Multi-Family
- Multiple Listing Service (MLS)
- Multi-Property Sale
- Mutual Acceptance
N
- National Association of Realtors
- Natural Hazard Disclosure Act
- Negative Amortization Loan
- Net Proceeds
- New Construction
- Notice of Default
O
P
- Parent Involvement Rating
- Par Rate
- Pending
- Pending Offer
- Pending - Over 4 Months
- Pending - Taking Backups
- Per Diem
- Planned Unit Development (PUD)
- Pocket Listings
- Possession: Close of Escrow
- Possession: Subject to Home Choice
- Pre-approval
- Pre-Payment Penalty
- Pre-qualification
- Price Adjustments
- Price/Square Foot ($/Sq. Ft.)
- Principal, Interest, Taxes, Insurance (PITI)
- Principal Leadership Rating
- Private Mortgage Insurance (PMI)
- Probate Sale
- Procuring Cause
- Property Tax
- Public Offering Statement
- Purchase and Sale Agreement
Q
R
- Radon
- Real Estate Agent
- Realtor
- Redfin Agent
- Redfin Coordinator
- Redfin Field Agent
- Redfin Refund
- Redfin Team Lead
- Redfin Transaction Coordinator
- Refinance
- REO (Real Estate Owned Home)
- Resale Certificate
- Rescission Notice
- Reserves
- RESPA
- Right of Refusal
S
- Safety and Discipline Rating
- Sale-to-List Ratio
- Seasoning
- Secondary Mortgage Market
- Self-Represented Buyer
- Seller Disclosure
- Seller's Market
- Selling Office Commission (SOC)
- Senior Exemption
- Settlement
- Short Sale
- Single Family Residence (SFR)
- Sold
- Special Assessments
- State Department of Education
- Student to Teacher Ratio
- Subject to Inspection (STI)
- Survey
- Surveyor
- Sweat Equity
T
- Teacher Quality Rating
- Temporarily Off Market
- Tenancy-In-Common
- Title
- Title Insurance
- Townhouse
- Transaction Broker
- Truth-in-Lending Act
- Turn Key