Agency: The legal relationship between a principal and his/her agent arising from a contract in which the principal engages the agent to perform certain acts on the principal’s behalf.
Agent: One who undertakes to transact some business or to manage some affair for another, with the authority of the latter.
Code of Ethics: A statement of principles concerning the behavior of those who subscribe to the code.
Conveyance: Transfer of title to land, includes most instruments by which an interest in real estate is created, mortgaged, or assigned.
Deed: Any one of many conveyance or financing in instruments, generally a conveyance instrument given to pass fee title to property upon sale.
Deed of Trust: An instrument used in place of a mortgage where property is transferred to a trustee by the borrower in favor of the lender and reconveyed upon payment in full.
Dual Agency: The situation in which an agent represents more than one party to a transaction.
Escrow Agent: Any person engaged in the business of receiving escrows for deposit or delivery.
Trustee: One who is appointed, or required by law, to executed a trust, or one who holds title to real property under the terms of a deed of trust.
For more Real Estate Terms just click onto either of these websites: http://content.realestateabc.com/glossary/
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Real Estate Tips
People buy a home for a lot of different reasons. They may want to put down roots in a community and create a sense of stability in their lives. Then there are the financial considerations and the “forced” savings that builds up in the form of equity. In addition, the monthly cost of owning a house is usually much more stable and predictable than renting.
If you are considering the possibility of purchasing a house, contact a knowledgeable real estate agent in your community. An important part of our job is to educate prospective buyers about the potential benefits and responsibilities of renting versus owning a house. We can help you determine your purchasing power and show you the best homes in your price range.