Category: Real Estate Terms
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What Happens If You Build On An Easement?
Easements are a standard legal instrument on many types of land. If you own land and property, it is good to understand if there is an easement on your property. Usually, you can build on an easement as long as it does not interfere with the easement’s purpose. You should seek permission from the person…
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How Old Do You Have To Be In Wholesale Real Estate?
Some people wonder how old they must be to enter the Real Estate property market. Different states can have additional requirements for their state. Most states require that to become a licensed real estate agent, you are over 18 years old and have a high school diploma or GED. To enter a contract such as…
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What Does “BAC” Stand For On A Real Estate Listing?
When you are looking to buy or sell real estate, chances are you will work with a real estate agent to help you through the process. Understanding some real estate terms is good if you are in the market to purchase or sell a property. BAC stands for Buyer Agents Commission, the commission the Buyer…
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What Does The Term COE Mean In Real Estate?
If you want to purchase any property, you may have heard the term COE and wondered what it meant. COE in real estate usually refers to “Close of Escrow.” The close of escrow is when the buyer has fully purchased the property and is the rightful owner. An escrow is a neutral third party that…
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When Do Real Estate Agents Get Paid Their Commission?
If you want to buy or sell property, you will likely work with a real estate agent. Many want to know when and how real estate agents get paid their commission. A real estate agent will get paid once the sale of the property goes through. The escrow company pays the listing agent’s brokerage firm,…
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What Does EMV Mean In Home Foreclosure Listings?
If you are looking to purchase a home that has been foreclosed or ceased by the bank, you may see a term listed as EMV. Many people wonder what the EMV term means. The term EMV means the Estimated Market Value. It is the estimated value that is placed on a home that has been…