Ryan Kent
[ผู้ตั้งกระทู้] 2022-10-25|16:16:40
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รายละเอียด:
For first-time buyers to purchase a new home can be a very daunting task, for various reasons. The first reasons can be on the different terminology you have not use before.
Down below are a list of common real estate terms to use between buyers, seller, and agents.
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Agent - A certified real estate agent that can purchase and sell property on behalf of their clients. An agent must be employed by a licensed broker; they cannot act alone.
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Amortization - Amortization is when you schedule your mortgage payments spread out over time. In the property market, a buyer’s amortization schedule is monthly payment over a time period between 15-40 years.
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Appraisal - An appraisal is an estimation on how much is your home worth. When buying a home, the lender requires an appraisal by a third party to make the loan amount accurate. Advancement in information technology made home appraisal a very quick process for buyer’s and seller’s.
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AVM (Automated Valuation Model) - Information technology software to find the estimated market value of your home.
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Broker - A real estate agent who has the necessary licenses in their state to represent clients and run a firm. Brokers get comprehensive training and obtain licensing to manage individual agents through a firm or work on their own.
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Contingency - A requirement that must be satisfied before a real estate deal can be signed.
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Closing - The procedure for completing a real estate deal. This includes finalizing mortgage agreements, paying any necessary transaction fees, and signing documents to complete the transaction.
For more information, you can check on FazWaz Advice section.
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