Subject to Inspection (STI)

A home may be identified as Subject to Inspection if the seller has entered into a contract with a buyer but a successful closing is contingent on a home inspection and negotiation over any related repairs or concessions.

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Sweat Equity

Many of today’s top producers not only close deals for buyers and sellers, but they also invest in their own properties to flip at a later date. If you end up investing at any point or one of your clients decides to do so (and hire you to sell the home later), know that sweat equity […]

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Surveyor

Buyers typically want to know every last detail about a property before making an offer, including the exact square footage of the land on which a home exist. Sellers also want this information when they decide to list their home so they can have it at the ready for potential bidders. Surveyors secure this information by analyzing […]

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Seller’s Market

The two sweetest words any homeowner about to offload their residence wants to hear: “seller’s market.” This occurs when the demand is far higher than the supply, which bumps up housing prices in a given area and generally leads to lots of bids (and bidding wars) for certain properties. Sometimes, prices get too steep for […]

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Seller’s Agent

You’re a beginner real estate agent — but that doesn’t mean you can’ daydream from time to time to wonder what it’d be like to represent home sellers, right? The main reason many buyer’s agents aspire to be seller’s agents is they can get the bigger-fish clients more often, whereas when they represent buyers, it’s more […]

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Servicer

A mortgage servicer manages the daily administrative work around a loan, including processing loan payments, responding to borrower inquiries, and tracking principal and interest paid.

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Seller carry-back

A seller carry-back is financing in which the seller acts as a bank or financial institution financing some or all of the transaction. The buyer will sign a promissory note agreeing to pay a specific amount (like a mortgage) to the seller, and the seller transfers the title to the new owner. If the buyer is unable […]

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Secured loan

A secured loan is backed by the borrower’s assets, including cars, a second home, or other large items that can be used as payment to a lender if the borrower is unable to pay back the loan.

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Sale-leaseback

A sale leaseback occurs when a buyer closes on a home and then leases back tenancy to the seller. This usually occurs when the seller needs more time to vacate the home, in which case, the buyer becomes a sort of landlord and receives payment from the seller for every day they remain in the […]

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Supra®

An electronic lockbox (ELB) that holds keys to a property. The user must have a Supra keypad to use the lockbox.

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