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Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
Mar 20, 2023 · When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. Keep this guide handy — you'll be fluent in the language of home buying before you know it.
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- Note: Letters of the alphabet without a relevant term are not listed.
- Adjustable-rate mortgage (ARM): A mortgage loan with an interest rate that can change throughout the loan’s lifetime.
- Agent: A real estate professional that is legally licensed to buy and sell property on behalf of their clients. An agent cannot operate independently, they must work under a licensed broker.
- Amortization: The process of gradually reducing mortgage loan debt over time by establishing scheduled monthly payments. The interest payment of an amortized loan will decrease as time goes on, while the principal payment will increase.
Jan 3, 2023 · Looking for real estate terms, abbreviations and jargon? Here’s the ultimate glossary of real estate terms and abbreviations updated in 2023 from the Real Estate Institute of Australia (REIA), Property Council of Australia, Australian Property Institute, realestate.com.au and more.
When it comes to property, there can be a lot to get your head around. Lengthy contracts, difficult to read paperwork and not to mention the confusing language. Here is a list of common terms to help you beat the jargon whether you're buying, selling, renting or a landlord. Agreement in principle.
Jun 15, 2021 · 40 Common Real Estate Abbreviations and Acronyms. Written by MasterClass. Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
Jan 13, 2021 · The ultimate property jargon buster. The property world is full of words and expressions that may be unfamiliar to anyone who is not regularly buying, selling, letting or renting a home. This updated guide from OnTheMarket will help to shed light on what they all mean.
