Monthly Archives: May 2016

Real Estate Term of the Week

Addendum: An addendum is a document included in a homebuyer’s Purchase Contract that contains additional information or requests for items not included in the Purchase Contract. Language included in an addendum can override terms...

Navigating the Post-Inspection Period

You’re excited that you have a purchase contract. Now, are you ready for the home inspection results? The post-inspection negotiation is often as critical as the price negotiation. Many home transactions crumble when buyers...

Real Estate Term of the Week

APR (Annual Percentage Rate): The APR is a measure of the cost to you of borrowing money. The APR reflects not only the interest rate but also the points, mortgage broker fees, and other...

Real Estate Term of the Week

Closing Disclosure: A multi-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and...

Real Estate Term of the Week

Pre-approval: An evaluation of a potential borrower by a lender that determines whether the borrower qualifies for a loan from the lender, or the maximum amount that the lender would be willing to lend....