2023

Overview of the Process Buying a house before selling your current one can be a complex process. Still, it can be a smooth transition with careful planning and the right resources. When navigating this situation, it's essential to consider your financial situation, market conditions, and potential options. This guide will provide advice and tips on how to buy a house before selling yours. You can...

US Housing Market Overview Median Sales Price Number of Houses Sold US Housing Supply US Housing Demand...

Definition of Escrow Escrow is a process commonly used in real estate transactions to protect buyers and sellers. It involves using a neutral third party, the escrow agent or company, who holds onto funds or important documents until certain conditions are met. This ensures that all parties involved fulfill their obligations before completing the transaction. Escrow is primarily used to manage and...

Definition of a Listing Agreement A listing agreement, also known as a real estate listing agreement or a real estate contract, is a legal document that establishes an agency relationship between a property owner and a real estate broker. This agreement specifies the terms and conditions under which the broker will act as the property owner's exclusive representative in the selling process. The...

Overview of Condo vs. Apartment Living When choosing a place to live, many people decide between a condominium (condo) or an apartment. Both options offer unique living experiences, but it's essential to understand the critical differences before deciding. Condos are individually owned units within a larger residential building or complex. At the same time, apartments are rented from a property...

Definition of DSCR Loan A DSCR (Debt Service Coverage Ratio) loan is specifically designed to evaluate if a property's income is sufficient to cover its debt obligations. Lenders use this ratio to determine the borrower's ability to make regular loan payments. The DSCR ratio calculates the property's net operating income by its total debt payments. A higher DSCR ratio indicates a lower risk for the...

Definition of Title Insurance Title insurance is a crucial component of any real estate transaction. It protects buyers and lenders against potential title defects and disputes arising after purchasing a property. When you buy a property, you want to ensure that you have clear legal ownership and that no outstanding debts or legal issues are associated with the property. Title insurance provides...

What is Title Insurance? Title insurance is crucial to any real estate transaction, providing protection and peace of mind for both buyers and lenders. But what exactly is title insurance? In simple terms, it is a type of insurance policy that protects against any potential legal issues or defects in property ownership. These could include unpaid taxes, liens, or even mistakes in public records. A...

What are closing costs? Closing costs are fees and expenses that homebuyers and sellers must pay at the end of a real estate transaction. These costs vary depending on the property's purchase price and the loan's terms. Some typical closing costs include real estate agent commissions, transfer taxes, recording fees, attorney fees, and title search fees. There may also be costs associated with loan...

What is a Real Estate Purchase Agreement? A real estate purchase agreement is a legally binding contract that outlines the terms and conditions of a property sale transaction. This agreement specifies details such as the purchase price, closing costs, and any contingencies that must be met before the sale is finalized. It is an essential document for buyers and sellers, protecting their interests and...