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Welcome > Resources > Real Estate Dictionary - A
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Zoning |
e regulation by local government of the use and
development of private land |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
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Home Inspections >If It Is Broken Fix It
Most houses have a few "little" problems, like leaking faucets, a stove burner that won't light, or electrical outlets with too much "spark". These defects may not seem very important--unless your house is about to go on the market.
We rarely have difficulty getting sellers to agree to paint, replace worn carpets or plant a few flowers in the front yard. These kinds of repairs obviously increase the overall appeal of the property. However, if any of the major systems in your home need maintenance, it is also prudent to have the necessary repairs made. Have your furnace, central air-conditioning system, plumbing and wiring checked as part of your pre-marketing efforts. The best rule is--if it's broken, fix it!
The purchase agreement requires that a house be conveyed with all the systems in working order, and most buyers will bring in a home inspector to identify any potential problems. During the period of time between the "meeting of the minds" and the removal of the inspection contingencies, the buyers are the most vulnerable to an attack of buyer's remorse. This is also the time when anything that hasn't been repaired could become a major issue.
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What does the abbreviation PITI stand for?
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Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment. |
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Deborah Herridge
Keller Williams Towne Square Realty
55 Madison Avenue
Suite 400
Morristown, NJ 07960
Direct: 201 400 2980
Office: 973 539 1120
Fax: 201 299 4819
Deborah@TheHerridgeGroup.com
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NUMBER1EXPERT®
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