Property Types
A detached dwelling for one family
Single-Family Home
The initial payment made to secure a property purchase.
Down Payment
Represents buyers or sellers in real estate transactions.
Real Estate Agent
Overlooking this crucial step before house hunting can lead to disappointment.
Getting Pre-Approved for a Mortgage
Overestimating your home's value can lead to this
Overpriced = Longer days on market
Individually owned unit within a larger building
Condominium
The professional estimate of a property's value.
Appraisal
Estimates the value of properties for various purposes (e.g., buying, selling, lending).
Appraiser
3 Hidden costs most buyers aren't fully prepared for
Property taxes, homeowners insurance, and utilities.
Failing to consider these in your neighborhood
Recent sold comps
A home built in a factory and transported to a site.
Manufactured Home
A deposit made by a buyer to show their commitment to purchasing a property.
Earnest Money Deposit
Oversees the day-to-day operations of rental properties.
Property Manager
Making an offer without considering these additional costs.
Closing Costs
Ignoring these can make your home seem neglected
Minor repairs / deferred maintenance
Property used for selling goods or services
Retail Property
Insurance protecting the lender in case the borrower defaults on the loan.
Private Mortgage Insurance
Conducts thorough inspections of homes to identify potential issues or defects.
Home Inspector
Failing to consider these factors when making an offer can weaken your position.
Contingencies
Not being flexible with this to accommodate a buyer's schedule
Showing times
Land used for farming or ranching.
Agricultural Land
Refers to the front, back, and sides of a building
Elevation
Counsels borrowers, evaluates loan applications and approves or denies loans.
Jeffrey Starnes - Mortgage Lender
Underestimating the importance of this professional's advice.
Chris Curran - A Real Estate Agent
Investing in ___________ to showcase your home's features
Poor Quality Photos