Home Buying Real Estate Terms

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Home Buying Real Estate Terms
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Appraisal
The Estimate Value of the property
Building Codes
Rules established by a local or state
jurisdiction that cover how a house can be built
or modified.
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Certificate of Title
Document that ensures the property is legally
owned by the person who claims it.
Closing Costs
All fees expense associated with closing a
home, usually around 6 of the cost of the home.
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Comparative Market Analysis (CMS)
A study of how comparable local homes have sold
to help determine a reasonable price for property.
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Debt To Income Ratio
In Order to qualify for a loan, your monthly debt
cannot exceed 43 of your monthly income.
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Earnest Money Deposit
Payment made to the seller with the offer to show
serious intention.
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Escrow
An account where all closing costs are collected
while the lender approves the deal.
Good Faith Deposit
Payment made to the lender with the offer to show
serious intention.
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To know more contact us-
31620 Railroad Canyon Road, Canyon Lake, CA 92587
http//superzinggs.com
[phone]
realestate_at_superzinggs.com
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