Words like Escrow and Pre-Approval are part of my daily vocabulary, but many words and phrases that are commonplace for those of us in the real estate workplace, can seem alien to many of our clients and customers. The FTC has put together an 18 page PDF called The Real Estate Marketplace Glossary: How To Talk The Talk. While many words and phrases like Open House and Interest are commonly known, others, like Cash-out Refinance, Deed In Lieu and Earnest Money, are not used in most folks every day lives. So if you are getting ready to for a real estate transaction, take a few minutes to read through this guide and brush up on your vocabulary. Never hesitate to ask your lender or Realtor a question, but this might help give you a better understanding going forward.
The Real Estate Marketplace Glossary: How To Talk The Talk.