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 Costs: various fees and expenses payable by the seller and buyer at the time of a real estate closing (also termed transaction costs)

Examples: The following are some closing costs:
-brokerage commissions
-lender discount points/other fees
-title insurance premium
-deed recording fees
-loan prepayment penalty
-inspection and appraisal fees
-attorneys fees

At Equity Real Estate we are here to help you navigate the home buying process. Please give us a call with any questions, we're happy to help!

 

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