What does discoloration mean in real estate? Discoloration means localized darkening of the original color of walls, carpet and other interior surfaces caused by accumulation of small particles that are present in the air of homes.
What does it mean when a house is listed as closed?
Closing is the final step of the homebuying transaction. All outstanding fees listed in the closing disclosure are paid, the escrow funds are cleared to be delivered to the seller, and the buyer and seller sign documents to transfer ownership of the property.
What is the difference between just sold and just closed?
Question: What is the difference between "sold" and "closed"? ANSWER: Real Estate is not considered to be "Sold" until the actual transfer of the property has taken place and consideration has been paid. Once that has taken place, the property is "Closed" and belongs to the new owner.
What does temporarily withdrawn mean in real estate?
A reminder that if your seller has asked you to take their property temporarily off the market but agrees to leave the listing agreement in force, you can use the Temporarily Withdrawn (WDN) status. Just make sure you have the seller's signed, written permission before you withdraw the listing in MLS.
What are red flags in real estate?
Locked Doors and Blockades. Ask about any rooms that are "off limits" during your home tour, and arrange to see them later if you're interested in the house. Be sure to tour the entire house. Foggy or Nonfunctioning Windows. Check for water in between double-paned windows and make sure all the windows are functional.
What is 2 1 in real estate?
A 2-1 buydown is a type of financing that lowers the interest rate on a mortgage for the first two years before it rises to the regular, permanent rate. The rate is typically two percentage points lower during the first year and one percentage point lower in the second year.