Real Estate Terms
Real estate terminology can feel foreign and confusing. Between the acronyms, legalese, and fine print, sellers and buyers alike can end up feeling overwhelmed by the jargon. We provide information you can use on various real estate terms and help you make sense of it. Our goal is to help people feel more empowered when making decisions in real estate. We do our best to explain the language and explain how situations applicable to those terms can affect you when buying or selling real estate.
Real Estate Appraisal Types Explained
An appraisal is an expert valuation of what a property is worth, and there are two types of appraisals in real estate. There’s a property tax appraisal, which is used…
What Is an Easement in Real Estate?
An easement is an arrangement granting one person or group—known as the easement holder—the right to access the property of another person or group. Whether or not the property owner…
What Is Adverse Possession in Real Estate?
If a person spends a long enough time occupying someone else’s land, they may be able to claim that land for themselves through a principle known as adverse possession. Adverse…
What is an Earnest Money Deposit in Real Estate?
If you’re selling a home, you no doubt want to get it off the market in a timely manner. But, settling for the wrong buyer can cost you more time…
What Is a Short Sale in Real Estate?
Unexpected life events, like changes in employment or divorce, can sometimes cause a homeowner to fall behind on their mortgage. If you’ve suddenly found yourself unable to keep up with…
What You Need to Know About Mechanic’s Liens
Whether you are about to have construction work done on your property, have recently had renovations completed, or are looking to buy a new home, it is important to have…
What is a Deed in Real Estate?
The legalities of a home sale can often be a bit confusing for anyone who doesn’t work in real estate, but a little knowledge of the common terminology used can…
What Is Gentrification in Real Estate?
You may have heard the word ‘gentrification’ in both the media and casual conversation. While city residents and news reporters may complain that gentrification is a blight on urban communities,…
What Is an Affidavit of Heirship for a House in Texas?
When a family member dies without leaving a Will, an affidavit of heirship can allow you to sell a house without going through probate. Going through the full probate process…
A Guide to Understanding Texas Real Estate Liens
A lien is a notice attached to your property stating that a creditor claims you owe them money. A lien is typically a public record, and for real estate liens,…
What You Need to Know about Deeds in Texas
Texas is one of the few states that is a “deed of trust” state. While many people take out a mortgage to purchase real estate, which is a loan borrowed…
What Is a Mortgage Loan Modification & How Do You Apply for One?
There are circumstances like the loss of a job, illness, divorce, and other life-changing events which can happen to anyone, which can cause you to fall behind on your mortgage…
What Is Title Insurance and Why Do You Need It?
Title insurance is not just another fee involved with closing costs. It can offer valuable protection for homeowners. As owner’s policies are optional in Texas, many buyers may not be…