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Real Estate Term of the Week

Home Energy Audit: Is also known as a home energy assessment and is the first step to assess how much energy your home consumes. The person performing the audit evaluates what measures you can...

Buyer Tasks After A Home Closing

After all the paperwork has been signed and you have the keys in hand, you’ll probably feel happiness and relief that the process of home buying is complete. While you have good reason to...

Real Estate Term of the Week

Deferred Maintenance: The practice of postponing maintenance activities such as repairs on a home. Examples are broken windows, missing shingles, peeling paint, broken guttering, crumbling concrete steps, and other property defects that have not...

Real Estate Term of the Week

Home Equity Loan: A type of loan in which the borrower uses the equity of his or her home as collateral. The loan amount is determined by the value of the property, and the...

Real Estate Term of the Week

FHA Loan: A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment....

Real Estate Term of the Week

Construction Contract: A legal document which specifies the details of a construction project. A good construction contract will include (1) the contractor’s registration number; (2) a statement of work quality such as ‘Standard Practices...