Home Buying Vocab

A document that proves ownership of property.

• Escrow

• Title

• Deed

• Easement

A document that transfers ownership.

• Escrow

• Title

• Deed

• Easement

Paperwork kept with a third party until certain requirements are met.

• Escrow

• Title

• Deed

• Easement

A legal agreement that allows other individuals to use a person's land for a set purpose.

• Escrow

• Title

• Deed

• Easement

A loan in which the interest rate and payment remain the same for the life of the loan.

• Earnest Money

• Contingency

• Promissory Note

• Fixed Rate Amortized Loan

A member of the national, state, and local board of realtors.

• Real Estate Agent

• REALTOR

A person licensed by the state to aid in real estate transactions.

• Real Estate Agent

• REALTOR

Essentially, an apartment that you own.

• Single Family Home

• Townhouse

• Prefabricated Home

• Condominium

Your usual, run-of-the-mill house.

• Single Family Home

• Townhouse

• Prefabricated Home

• Condominium

A home that is assembled on-site like a puzzle.

• Single Family Home

• Townhouse

• Prefabricated Home

• Condominium