Home Buying Vocab. Test

The highest price that a home will bring on the market

Expenses incurred in transferring ownership from buyer to seller in a real estate transaction

a legal write off that reduces tax liabilty

loan to purchase real estate

the process of determining how much money you are qualified to borrow

legally established ownership to property

written report that details the existing conditions of the house and property

legal document that transfers title of real property from one party to another

fund where money is held by your financial institution to pay amounts that will come due during the year

policy that protects the buyer from any claims arising from a defective title