Top 4 Unknown Selling Terms

When talking to your selling agent do you notice acronyms and terms they say that you don't understand? Don't shove them under the rug anymore, those weird terms are highly important to the selling process. Learn the top unknown selling terms that agents use daily.

CMA:

Comparative Market Analysis. Used to help you understand what homes similar to yours are being sold in your neighborhood. This will help you make sure that your home is listed at the right price.

FSBO:

For Sale By Owner. This is when a homeowner is responsible for every step of the selling process. They want to sell their home without the help of an agent. If done correctly it can save your money; however, if a mistake happens it can cost you.

Escrow:

The documents and payments that a 3rd party holds on to. This is often used when a buyer makes an offer on a home they can write a check (deposit) to be held by a 3rd party (in escrow) while the negotiation is finalized.

Contingency:

They are located within the contract and are used to protect the buyer. Be careful though, the more contingencies an offer has the riskier it is to accept.

The list of important selling terms can go on and on. Contact us to help you understand every term and step of selling your home.