What is Fannie Mae? – David Reecher The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a government-sponsored enterprise that buys loans from mortgage lenders, p...Read More
What is fair market value in real estate? – David Reecher Fair market value is the home price that a buyer and seller in an arm’s-length transaction would be willing to agree upon on the open mark...Read More
What is the Fair Housing Act? – David Reecher The Fair Housing Act is a law enacted as part of civil rights legislation that prohibits discrimination in home sales, rentals, and financing based on r...Read More
What is the FHA? – David Reecher The Federal Housing Administration (FHA) is a government agency that provides insurance for loans granted by FHA-approved lenders throughout the US. The FHA insures ...Read More
What does “expired” mean in real estate? – David Reecher When a homeowner contracts with an agent to sell a home, the listing agreement has a set expiration date. A listing expires when this exp...Read More
What does “exclusive agency” mean in real estate? – David Reecher An Exclusive Agency Listing is an agreement between a seller and a real estate firm or agent granting the firm or agent the righ...Read More
What is an excise tax in real estate? – David Reecher An excise tax is a tax on the transfer of ownership from the seller to the buyer paid at closing. The tax amount is based on the sale price of t...Read More
What is an estoppel certificate? – David Reecher An estoppel certificate is a signed statement of facts that cannot later be contradicted by the signer. It is used in mortgage negotiations to establ...Read More
What is an estate sale? – David Reecher An estate sale occurs when a homeowner dies or moves to an assisted-living facility. Those who inherit the home get the proceeds from the sale. If the owner d...Read More
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