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GLOSSARY OF REAL ESTATE TERMS. Abstract of Title - A summary of al1 of the recorded instruments and proceedings which affect the title to property, arranged in the order in which they were recorded. Accretion - The addition of land through processes of nature, as by water or wind. Accrued Interest - Accrue; to grow; to be added to.
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Black’s Guide’s Glossary of Real Estate Terms provides a complete reference dictionary of terms and phrases used in the commercial real estate industry. These definitions have been endorsed by numerous industry organizations as the Market Standard for their respective regions.
Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
So when you embark on your journey, one of your first stops should be familiarizing yourself with the lingo. We’ve curated helpful information from our Homebuyers’ Road Map and Tips for Buyers, to share with you some of the most important terminology a new buyer needs to know—from pre-purchase to post-purchase.
An important part of our relationship is making you more familiar with how these terms are a part of your purchase and ownership of real estate. We have provided here a simpli˚ ed, common language explanation of these terms limited to how they will most likely be used in your home purchase process.
This glossary will help you get your head around the most common terms when selling property and buying property or transacting in real estate in general. This Glossary seeks to give a simple explanation of the terms commonly used; it is not necessarily the legal definition.
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GLOSSARY OF REAL ESTATE & MORTGAGE TERMS. A. Agreement of Purchase and Sale – A legal agreement that offers a certain price for a home. The offer may be firm (no conditions attached), or conditional (certain conditions must be fulfilled before the deal can be closed).
