Key Terms for Homebuyers [INFOGRAPHIC]
- Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford.
- Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction.
- Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up.
Buying a home this year can be quite a complicated and arduous task. Trying to navigate the waters of home buying on your own is not something that anyone should attempt. Having a real estate agent on your side to guide you and negotiate for you is an absolute necessity.