Monthly Archives: September 2017

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...

Real Estate Term of the Week

Float Down Loan: The option for a borrower to get a lower interest rate if rates drop during the loan-application process. When a borrower locks a rate, a float-down option allows him to take...