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Real Estate Term of the Week:

Pre-qualification: An informal estimation of how much a homebuyer can afford. The main difference between pre-qualification and pre-approval is that the lender doesn’t yet verify any information the borrower provides for a pre-qualification. Lenders...

Will an Open House Sell My Home?

Holding an open house has been a marketing tradition for decades in the real estate industry. You open up the home with hopes that a flood of potential buyers will come see what your...

Real Estate Term of the Week

Opportunity Cost: Refers to a benefit that a person could have received, but gave up, to take another course of action. In other words, an opportunity cost represents an alternative given up when a...

Real Estate Term of the Week:

Truth-in-Lending Act (TILA): A set of U.S. government guidelines for lending practices to ensure that borrowers receive information about their loans. As part of the Consumer Credit Protection Act, it requires lenders to disclose...

Real Estate Term of the Week:

Rescission Notice: A form buyers sign if they back out of an offer on a home. The buyer’s agent will submit this form to the listing agent so the sellers know the deal is...

Real Estate Term of the Week

Low-E Windows: Low-E means low emissivity, which refers to a surface that emits low levels of radiant heat. Windows treated with a low-E coating reduces the amount of heat transfer, thus keeping a home...