What is a concession in real estate?
What is a concession in real estate? – David Reecher A concession is a benefit or discount offered by the buyer or seller to help sell a home and close a deal. Concessions are usually specified duri... Read More
What is a Comparative Market Analysis (CMA)?
What is a Comparative Market Analysis (CMA)? – David Reecher A comparative market analysis (CMA) is an evaluation of a home’s value based on similar, recently sold homes (called comparables) ... Read More
What are comparables?
What are comparables? – David Reecher Comparables are homes of similar size, condition, age, and style that recently sold in a certain neighborhood. Evaluating comparable homes and their prices can ... Read More
What is a Closing Disclosure?
What is a Closing Disclosure? – David Reecher A Closing Disclosure is a final statement of loan terms and closing costs that the lender must provide to the borrower at least three business days befo... Read More
What are closing costs in real estate?
What are closing costs in real estate? – David Reecher Closing costs are the expenses and fees associated with the purchase and sale of a home, such as taxes, title insurance, appraisal, lender fees... Read More
What is a Certificate of Occupancy?
What is a Certificate of Occupancy? – David Reecher A Certificate of Occupancy is a document issued by a local government that certifies a home is ready to be occupied and complies with local buildi... Read More
What is cash-out refinancing?
What is cash-out refinancing? – David Reecher Cash-out refinancing occurs when a borrower refinances his mortgage for more than he currently owes to pocket the difference in cash up front.... Read More
What is a Case-Shiller Index?
What is a Case-Shiller Index? – David Reecher The Case-Shiller index refers to several indices that measure home prices across the United States on a point system (with January 2000 set at 100). The... Read More