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Real Estate Term of the Week

Mutual Acceptance: The point when both the buyer and seller agree on the price and terms of a deal. In most states, such as Ohio, the purchase and sale agreement is signed at mutual...

Real Estate Term of the Week

Rent-Back Agreement: A legal, written agreement in a real estate transaction between a seller and a buyer. It gives sellers permission to stay in possession of the home they’ve just sold for a longer...

Real Estate Term of the Week

Homestead Exemption (Ohio): The homestead exemption allows low-income senior citizens and permanently and totally disabled Ohioans to reduce their property tax bills by shielding some of the market value of their homes from taxation....

Real Estate Term of the Week

Fixer-Upper: A real-estate term for a home that needs maintenance work (redecoration, redesign, or reconstruction) and is typically offered at a low purchase price, but can usually be lived in as-is. Fixer-uppers offer buyers...