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Traditionally, when a home seller hires a real estate agent to represent their listing, the seller agrees to pay a commission. The national average is about 5 percent of the home’s sale price ...
The new rules could mean more buyers end up paying their agent’s fees at the time of the sale. That creates a problem because mortgage underwriters do not allow banks or buyers to roll agent ...
Assessor's parcel number. An assessor's parcel number, or APN, is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes of identification and record-keeping. The assigned number is unique within the particular jurisdiction, and may conform to certain formatting standards that convey basic ...
Real-estate lock box. A real-estate lock box is a padlock -shaped box that generally hangs around the doorknob of a house that is on the market. The device holds the keys to a house to allow communal access for all real estate agents, while continuing to keep them secure. [1] Permission is generally required from the seller, who is the owner ...
Property condition assessments ( PCA s) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate. Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply ...
But Russel Morgan, a real estate attorney from Morgan Legal Group, says some sale-leaseback companies are creating predatory arrangements by offering six-month terms instead of the standard 15 ...
Days on market. Days on market (DOM, alternatively active days on market, market time, or time on market) is a measurement of the age of a real estate listing. The statistic is defined as the total number of days the listing is on the active market before either an offer is accepted or the agreement between real estate broker and seller ends.
Real estate license. A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and many ...