Category: Real Estate Terms
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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…
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Real Estate Agent Showing Property Without A State License
Real Estates agents are under a set of laws that determine where and how they can transact real estate deals. A license in one state does not give them the right to practice real estate in any state. A Real Estate agent or broker cannot sell or transact a real estate deal for commission or…
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Why Is Real Estate Called ‘Real Estate’?
Real Estate is one of those series of words that many of us use daily. We may not realize the history and story behind why real estate is called “real estate.” The word Real Estate comes from the Latin word realis, but it refers ideally to the physical and economic characteristics of real estate or…
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Can You Take The Real Estate Exam Without Taking Any Classes?
Becoming a Real Estate agent in the United States requires you to take a real estate exam for the state or area where you want to sell real estate. Each state will have some slightly different real estate laws. Most states require that you show that you have taken and completed a certain number of…