For Sale By Owner (FSBO) refers to a property sale conducted directly by the owner without the use of a real estate agent. This approach allows sellers to avoid paying commission fees but requires them to handle all aspects of the sale process.
A home inspector is a professional who evaluates the structural, mechanical, and various other conditions of a home prior to its sale, ensuring both the buyer and seller are aware of the home's condition.
A kick-out clause is a provision in a real estate sales contract that enables the seller to void the agreement if a superior offer is received before the sale closes.
The listing price, also known as the asking price, is the price a seller sets for a property when placing it on the market. It's an initial amount intended to serve as a starting point for negotiations with potential buyers.
A settlement statement is a critical document in a real estate transaction that itemizes all the financial details and allocations for both buying and selling parties. It ensures transparency, allows for error checking, and provides documentation of the financial exchanges in the sale.
A tag sale, also known as a yard sale or garage sale, is a casual sale where individuals mark used household items with price tags. These sales are typically held on weekends at the vendor’s home, often featuring merchandise displayed in the front yard or driveway.
