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A Useful Place to Start

Clear answers for your next move

Practical guides to the decisions before, during and after a home purchase or sale.

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In Plain Language

Real estate terms

Real estate
Land and interests in property, including buildings and improvements. The deed, title work and other documents establish the particular rights involved in a purchase.
MLS
A multiple listing service through which participating real estate professionals share listing information. A website search displays the records it is permitted to show; it is not a complete record of every property or private sale.
Appraisal
A professional opinion of value for a defined purpose. It differs from a home inspection, which investigates condition within the inspection scope, and from an automated estimate.
Earnest money
A deposit governed by the purchase agreement. Read the amount, holder, deadline and release provisions together rather than assuming it is always refundable.
Contingency
A contract provision making an obligation depend on a specified condition or event. Its exact language, notice requirements and deadlines matter.
Cash to close
The funds needed to complete the transaction after the relevant costs, deposits and credits are accounted for. Ask the lender and closing attorney to explain the final calculation.
Equity
Broadly, the value of a property less debt secured against it. The costs of a sale affect the proceeds an owner actually receives.
Escrow
Funds held for an agreed purpose. A purchase deposit arrangement and a mortgage account for taxes or insurance are different uses of the term.

These are starting definitions. Ask your agent, lender or attorney to explain how a term applies to your documents and circumstances. The CFPB mortgage glossary provides more detail.

Official and local resources

Use the appropriate public source for a specific question, then confirm current details before relying on them in a transaction.

For information about the places you are considering, explore the community guides or bring your questions to the team.

The Yukich Group

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Whether you're buying your first home, selling to upgrade, or relocating to the Upstate, one conversation is the best place to start.