Author: davidreecher
What is a vacancy rate?
What is a vacancy rate? – David Reecher The vacancy rate is the percentage of vacant units in a rental property, like an apartment building. A low vacancy rate indicates strong rental interest, ... Read More
What is a VA loan?
What is a VA loan? – David Reecher A Veterans Affairs loan, commonly known as a VA loan, is a special type of loan guaranteed by the US Department of Veterans Affairs and only available to eligi... Read More
What are upfront costs?
What are upfront costs? – David Reecher Upfront costs are the costs you pay out of pocket once your offer on a home has been accepted. Upfront costs include earnest money, the inspecti... Read More
What is an underwriter?
What is an underwriter? – David Reecher An underwriter is an individual working for mortgage lenders who determines whether or not a borrower’s loan is approved. If a borrower gets a... Read More
What does “under contract” mean?
What does “under contract” mean? – David Reecher A home is under contract when a buyer has made an offer on a home and the seller has accepted, but the sale has not closed. In order ... Read More
What does turn-key mean?
What does turn-key mean? – David Reecher Turn-key is a term used by real estate agents to indicate that a home is move-in ready. This means that all appliances are in working condition and there... Read More
What is the Truth-in-Lending Act?
What is the Truth-in-Lending Act? – David Reecher The Truth-in-Lending Act is a set of U.S. government guidelines for lending practices to ensure that borrowers receive information about th... Read More
What is a transaction broker?
What is a transaction broker? – David Reecher A transaction broker does not represent the buyer or seller, but instead acts as a neutral resource to help both parties complete a home sale. For e... Read More