Days on market, or DOM, refers to the amount of days a property has been listed on the MLS. A property with a very high number of days on market can be indicators of several things like a unique floor plan or a high sales prices.
An estimate or assessment of a property’s value. It is used to determine a just correlation between the amount of the loan being issued with the value of the property. The bank/mortgage company does not want to back an over leveraged loan.
Form given to buyers/borrowers before closing on a home that breaks down all the costs associated with the transaction. Often called a CD.
Described as the right to another’s property for a specific purpose. Commonly in reference to a shared driveway that would otherwise landlock a property without direct access to a roadway. There are several types of easements.
A legal document giving another person power/authority to act/sign on your behalf in a specific or all legal and financial matters.
