Real Estate Terminology made easy
By Lori Webster, REALTOR Sharing Fountain Hills, Scottsdale & more
(Home Smart Premier)
Understanding real estate terminology can be of great assistance in buying or selling a home, commercial property, or investment property. In order to help you understand words commonly used in a real estate transaction, I have prepared a list of real estate terms you should become familiar with. Thanks again and be sure to contact me for any of your real estate needs in Maricopa County, AZ.Terms: Interest Rate The monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed. MLS- IDX IDX, or broker reciprocity, is a listing sharing arrangement between brokers within a Mulitple Listing Service. Market Value An asset's market value is the price it would fetch in the market, if it were sold in the current marketplace. Ti...
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