Personal Real Estate Corporation
Selling a home comes with a lot of moving parts—and even more unfamiliar terms. If you’re starting to think about listing your property, it’s a smart move to get comfortable with some of the most commonly used language in real estate. Here are a few key terms that can help make the process clearer:A CMA is a detailed report that looks at similar homes that have recently sold in your area. These homes are usually close in size, age, and condition to yours. The analysis helps determine a realistic and competitive price for your home based on actual market activity.As a seller, you’ll be required to share certain known facts about the property that could affect its value or livability. These might include past water damage, structural issues, or renovations. Being transparent up front can help build trust with buyers and avoid legal issues later.If a buyer makes an offer that doesn’t quite meet your expectations, you can respond with a counter offer. This means you’re rejecting the original offer, but proposing new terms—like a higher price, a different possession date, or revised conditions—that work better for you.These are the fees and expenses associated with finalizing the sale of your home. They often include legal fees, title insurance, taxes, and real estate commissions. While some costs are paid by the buyer, others may fall to the seller—so it’s good to plan ahead.This document outlines every financial detail of the transaction—from the sale price to the commissions, taxes, and adjustments. Your lawyer will provide this before closing to show exactly what you’ll receive (or pay) once everything is finalized.Understanding these terms can help reduce stress and keep you feeling in control as you move through the selling process. If you have any questions or want to talk through next steps, I’m always here to help.
