If you’re in the market to buy a home, you probably already know that every home has multiple bidders, and that mortgage qualification requirements have gotten tighter. That creates a survival of the fastest and financially fittest scenario. One thing that can help you get an edge is knowing the lingo of real estate. Understanding the terminology will help speed your offer, bid or mortgage process, and support you in making smart decisions.
Opendoor offers this guide to 52 essential real estate terms you should know. So, get out the flashcards, study up. Being real estate fluent could make the difference in getting the home, and the price, that’s best for you.
Still unsure of the terminology? Vanguard Realty Associates can clarify it all!