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An agreement between a seller a buyer to execute a real estate transaction.
What is a Contract of Sale?
FSBO
What is For Sale By Owner?
A productivity tool that drives you goal setting from the desired end results to the present. It's name stands for four weeks, one month, and one year.
What is a 4-1-1?
The fees and payments of the lender and title company required by the buyer at settlement?
What are Closing Costs?
43,560
What is the square footage of an acre?
A document that can be attached to a purchase agreement or lease to modify, clarify, or add terms and conditions
What is an addendum?
CMA
What is Comparative Market Analysis?
An individual who produces sufficient GCI and contributes enough Company Dollar to the Market Center to satisfy his/her annual commission cap requirement.
What is a Capper?
The deposit a buyer provides upon signing the contract to show good faith.
What is an escrow or earnest deposit?
3.5%
What is the FHA minimum down payment amount?
A showing & commission agreement between a FSBO seller and an agent who has an interested buyer.
What is a One-Time-Showing Agreement?
PITI
What is Principle, Interest, Taxes, Insurance?
The person responsible for implementing and maintaining all operational and financial system inside the Keller Williams Market Center
The member at the title company that facilitates settlement to complete a property transaction.
Who is the Closing Agent?
14 Days
How many days do you have to complete home inspections by default in the contract?
A document stating the buyer agrees to automatically increase their offer against any competing offers in a set amount of increments until a maximum dollar amount is reached.
What is an Escalation Clause?
ROI
What is Return on Investment?
Amount of Market Center profit that is sent to KWRI for distribution to the appropriate Associate.
What is Profit Share?
DAILY DOUBLE!!!
3% seller concession
What is the maximum concessions a buyer can receive on a conventional loan -10% down?
57 agents
How many agents are members of Productivity Coaching Program?
The notice that comes before the first page of the contract of sale that must be signed by buyer, seller, listing agent and selling agent.
What is the Notice of Rights to an Attorney?
ABR
What is Accredited Buyer Representitive?
Our 9 BELIEFS for how we grow our relationship among ourselves.
What is
W - Win-Win: or no deal
I - Integrity: do the right thing
C - Customers: always come first
C - Commitment: in all things
C - Communication: seek first to understand
C - Creativity: ideas before results
T - Teamwork: together, everyone achieves more
T - Trust: begins with honesty
S - Success: results through people
A fee that a lender charges a borrower to process a loan application and set up a loan or mortgage
What is an Origination Fee?
43 sections
How many sections are in the Contract of Sale?