Say What? Home-Buying Lingo You Should Know

If you are a first time home buyer or even a repeat buyer, you quickly realize that real estate has a language all its own. Understanding some of the lingo can help you navigate the process a little easier. By learning a few critical terms, you will be in a better position to ask the right questions and make the best decisions.

Buyer’s Market – A real estate climate where the number of listings outnumber qualified buyers.
Seller’s Market – A real estate climate when there are very few desirable properties listed for sale.
Contingencies – Specific conditions included in an offer to protect the buyer against unexpected situations, such as inspection, loan approval, and appraisal value.
Earnest Money – Money deposited when the offer is accepted. Subject to any contingencies, this money protects the seller from a buyer who simply changes her mind.
Escrow Agent – A neutral 3rd party who manages the paperwork in a state where attorneys are not used to conclude the contract.
Closing Costs – Fees that must be paid by both buyers to conclude the sale.
Conforming Loan – A conforming loan is a loan limit by which the loan can be sold on the secondary market; a jumbo loan is one which is higher than this limit.
PMI – PMI, private mortgage insurance is a fee paid by the borrower of a loan that they obtained with less than a 20% down payment.

These are just a few of the common terms used in real estate. If you are involved in a real estate transaction, learning a bit of the common lingo will help you understand the process better and make your home sale or purchase a smooth one.

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Celebrating Canine Fitness Month

By Allison McMillan • April 5, 2025

🐾 Kicking Off Canine Fitness Month with Ellie! 🐾 Join me and my sweet pup Ellie as we celebrate the start of Canine Fitness Month ! 🐶💪 Whether it's a walk around the neighborhood, a game of fetch, or just some tail-wagging fun, we're all about keeping our furry friends happy, healthy, and active. In this video, we’re sharing how we’re getting moving this spring—and inspiring other pet parents to do the same! 🌸 Don’t forget to like, comment, and subscribe for more fun with Ellie and updates from our world. 💗 Check out Ellie's Video Here!! https://youtu.be/KbeedaREe1s