Home purchasers often find themselves in a territory that they are not familiar with when they are buying property. Between credit checks, loan applications, and the protocol they look at for viewing properties, creating offers, and purchase reports. One of the largest sections of puzzlement comes down to the terminology and terms used. Lenders, realtors, builders, and other similar industry insiders seem to have a language of their own which can be a little confusing when used in front of an outsider.
Most of the housing terms that home purchasers usually hear end up costing them money. Taxes, fees, and also insurance come in various forms and the various forms all require a high cost for the purchaser. A few of the terms have been given below so that you can understand what is going to cost you and why. A purchaser who is well informed is a purchaser who is confident.
In our next entry, we will get into some of those specific terms.
For the Reader: What are some real estate terms you are familiar with already?