Escrow is a term that you're likely to encounter in any real estate transaction. But what exactly does it mean? In the context of real estate, escrow refers to a neutral third party who holds funds or documents until the conditions of a contract are met. For example, when a buyer makes an offer on a

The term 'contingency' is quite common in real estate contracts, and it represents conditions that must be met for the transaction to move forward. Essentially, contingencies are 'safety nets' for both buyers and sellers. For instance, a buyer may have a contingency stating that the purchase is subj

Closing costs are an essential part of any real estate transaction, but many buyers and sellers are unsure of what they include. In essence, closing costs are fees and expenses paid at the closing of a real estate transaction. These can include loan origination fees, title insurance, appraisals, hom

When it comes to buying or selling a property, the term 'appraisal' often comes up. But what exactly is an appraisal? In real estate, an appraisal refers to an expert estimate of a property's market value. This is typically conducted by a professional appraiser, who uses a variety of factors to dete