At Equity Real Estate we know that real estate terms can sometimes be confusing. We are going to share with you some common real estate terms and their meanings to help give you a greater understanding when you are trying to buy or sell a home.

               *Closing- 1. the act of transferring ownership of a property from seller to buyer in accordance with a
                                sales contract.  2. the time when a closing takes place.

                Example:  Abel agrees to purchase a property from Baker. A closing is set up for June 15, at which time
                                 Abel and Baker will sign all of the documents and pay all the expenses necessary to transfer
                                 ownership and secure financing.

At Equity Real Estate we are here to assist you in all stages of the home buying and selling process. If you have any questions please give us a call, we're here to help!

 

*Barron's Real Estate Guides: Dictionary of Real Estate Terms