Real Estate Term of the Day: Counteroffer COUNTEROFFER – rejection of an offer to buy or sell, with a simultaneous substitute offer (Barron’s Dictionary of Real Estate Terms) I’ve submitted my offer to the seller, now what? If the seller signs your initial offer before the Acceptance Deadline, the offer becomes a firm contract for … More Real Estate Term of the Day: Counteroffer
Real Estate Term of the Day: Conveyance CONVEYANCE – the transfer of the title of real estate from one to another; the means or medium be which title of real estate is transferred (Barron’s Dictionary of Real Estate Terms) A warranty deed is most often used as a conveyance of ownership at the closing in the … More Real Estate Term of the Day: Conveyance
Real Estate Term of the Day: Conventional Loan CONVENTIONAL LOAN – a private mortgage loan not guaranteed but the VA or insured by the FHA (Barron’s Dictionary of Real Estate Terms) Conventional loans generally require a higher down payment of at least 5% while FHA requires only 3.5% and VA doesn’t require a down payment … More Real Estate Term of the Day: Conventional Loan
Real Estate Term of the Day: Contract for Purchase CONTRACT FOR PURCHASE – an agreement between competent parties to do or not to do certain things for a consideration (Barron’s Dictionary of Real Estate Terms) Also known as a: contract, contract of sale, agreement of sale, purchase contract, purchase agreement The contract for purchase will … More Real Estate Term of the Day: Contract for Purchase
LESLIE MONACO REAL ESTATE 