Escrow is a process where the Buyer and Seller create instructions and deposit documents and funds with a, neutral, third party until the instructions are fulfilled. In a real estate transaction, these instructions relate to the sale of a property. The Buyer doesn't pay a Seller directly for the property. The ...

Real Estate Agent
A Person with a state license to represent a Buyer or a Seller in a real estate transaction in exchange for a commission.

Buyer's Agent
An agent hired by the Buyer to find them a home that matches their needs and manage the transaction documents. Generally ...

This chart indicates who customarily pays what closing costs. Closing costs are not set in stone and not all listed below apply to every real estate transaction. You and your Realtor should discuss closing costs that relate to your specific transaction.

Amortized Loan: A loan that is paid off - both interest and principal - by regular payments that are equal or nearly equal.

Amendment: A change - to alter, add to, or correct - part of an agreement without changing the idea or essence.

Appraisal: An estimate of value of property resulting from analysis ...