Real Estate

Default is a term used when the borrower fails to pay off the mortgage, interests, and applicable charges. The term can be applied when the […]

A deed is a legal document used to transfer the title of a property from a seller to a buyer. The buyer will not have

What is contingency? A contingency is a possible bad event that can happen in the future such as an economic recession. In real estate, a

Community property is defined as a property owned by both the husband and his wife. The couple will have an equal right to the property.

What is a conventional mortgage? A conventional mortgage is a homebuyer’s mortgage that is not backed by government institutions such as FHA. The down payment

A construction loan is a loan homeowners get to finance a construction project or build a home. These loans are short term and risky. Since

An assumable mortgage is an arrangement between a buyer and the current owner of the property regarding the remaining mortgage on the property. In this

Escrow is a term used when an asset or escrow money is held by a third party during a property transaction. The third-party works on

What is a down payment? A down payment is an upfront payment from buyers when they are buying properties or assets they cannot afford to

A counteroffer is an offer made by one party in response to another offer. This means that the new offer will be considered by the