Resources & Guides

Real Estate Lingo Explained with Rich Rosa

August 1, 2022
Resources & Guides

Real Estate Lingo Explained with Rich Rosa

August 1, 2022
Resources & Guides

Real Estate Lingo Explained with Rich Rosa

August 1, 2022
Resources & Guides

Real Estate Lingo Explained with Rich Rosa

August 1, 2022

Real Estate Lingo Explained

Episode Notes

:50 Overview of common definitions in real estate with Rich Rosa president of the National Association of  Exclusive Buyer Agents  & Victoria Ray Henderson

What is a down payment,  earnest money deposit, fair market value, market value, and assessed value

1:11 Rich Rosa on deposits and how they work in the Boston, Rhode Island areas

1:40 the two contract processes in Massachusetts

1:53 what is a purchase of sale agreement?

2:27 FHA loan you’ll put 3.5% down payment

2:37 first time home buyer programs in Massachusetts

2:47 VA Loans

Earnest Money Deposit and the Deposit

3:13 Earnest Money Deposit in the Washington DC Baltimore areas

3:53 What happens to the earnest money deposit if the transaction falls apart?

4:28 In the Massachusetts area it’s different

5:02 at some point you are in the transaction and you cannot wake up the morning of closing and say, “I’m not buying the house”

5:35 Listing office holds the deposit in Massachusetts

7:00 Rich talks about the down payment which is different from the deposit

8:55 Difference between pre-qualification and pre-approval

9:54 Pre-Offer Loan Commitment explained

10:45 When would you waive an appraisal contingency?

11:20 Buffet table example of the options available to home buyers

12:03 What is an underwriter?

13:00 What is a use of occupancy agreement or a post-occupancy agreement?

14:00 What are the limits of the post-occupancy agreement?

15:25 How should a property be delivered to the buyers? What is the meaning of broom clean and free of debris?

16:24 Fair market, assessed value, and appraised value, what are the differences?

16:53 Rich on tax assessments

17:45 What is an appraisal?

18:23 What is a comparative market analysis?

19:08 How does an appraiser appraise a property?

19:36 What is an appraisal contingency?

20:44 Maryland Homestead Tax Credit

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Real Estate Lingo Explained with Rich Rosa

By
August 1, 2022
Real Estate Lingo Explained with Rich Rosa
Real Estate Lingo Explained with Rich Rosa
Real Estate Lingo Explained with Rich Rosa
Real Estate Lingo Explained with Rich Rosa

Real Estate Lingo Explained

Episode Notes

:50 Overview of common definitions in real estate with Rich Rosa president of the National Association of  Exclusive Buyer Agents  & Victoria Ray Henderson

What is a down payment,  earnest money deposit, fair market value, market value, and assessed value

1:11 Rich Rosa on deposits and how they work in the Boston, Rhode Island areas

1:40 the two contract processes in Massachusetts

1:53 what is a purchase of sale agreement?

2:27 FHA loan you’ll put 3.5% down payment

2:37 first time home buyer programs in Massachusetts

2:47 VA Loans

Earnest Money Deposit and the Deposit

3:13 Earnest Money Deposit in the Washington DC Baltimore areas

3:53 What happens to the earnest money deposit if the transaction falls apart?

4:28 In the Massachusetts area it’s different

5:02 at some point you are in the transaction and you cannot wake up the morning of closing and say, “I’m not buying the house”

5:35 Listing office holds the deposit in Massachusetts

7:00 Rich talks about the down payment which is different from the deposit

8:55 Difference between pre-qualification and pre-approval

9:54 Pre-Offer Loan Commitment explained

10:45 When would you waive an appraisal contingency?

11:20 Buffet table example of the options available to home buyers

12:03 What is an underwriter?

13:00 What is a use of occupancy agreement or a post-occupancy agreement?

14:00 What are the limits of the post-occupancy agreement?

15:25 How should a property be delivered to the buyers? What is the meaning of broom clean and free of debris?

16:24 Fair market, assessed value, and appraised value, what are the differences?

16:53 Rich on tax assessments

17:45 What is an appraisal?

18:23 What is a comparative market analysis?

19:08 How does an appraiser appraise a property?

19:36 What is an appraisal contingency?

20:44 Maryland Homestead Tax Credit

You may download the PDF by clicking here.
Request More Information

We will not share your information with anyone....

First Name*
Last Name*
Email*
Click here to view content
Oops! Something went wrong while submitting the form.

Thank you for requesting more information...

We value and protect your privacy and will never share your contact information with anyone else.

You may also download the PDF here.

How can we help?

The exclusive buyer agents at HomeBuyer Brokerage specialize in serving home buyers. Please reach out with questions at info@homebuyerbrokerage.com.

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