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1. Appraisal. An estimated amount given by an expert (appraiser) to determine the value of the home. Sellers often get an appraisal to determine an accurate listing price, while buyers are ...
The index for pending home sales, a measure of contract signings on existing homes, rose by 3.4% in March, according to data from the National Association of Realtors (NAR) released Thursday. The ...
Lis pendens. In United States law, a lis pendens (Latin for 'suit pending' [1] ) is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office. Recording a lis pendens against a piece of ...
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [1] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the seller ...
Unless you’re a licensed real estate agent, you’ve probably smiled blankly and nodded at a word you didn’t understand while house hunting (or watching Selling...
Pending sales in the South jumped 12% in December, rising 1.5% from the previous year. Meanwhile, the West recorded a 14% uptick in pending transactions, up 1.5% from December 2022. In the Midwest ...
Chain (real estate) A chain, when used in reference to the process of buying or selling a house, is a sequence of linked house purchases, each of which is dependent on the preceding and succeeding purchase. The term is commonly used in the UK. [1] It is an example of a vacancy chain .
Despite the March gain, pending home sales are still “in a fairly narrow range over the last 12 months without a measurable breakout,” NAR’s chief economist, Lawrence Yun, said in a release.