Navigating the Real Estate Jargon: Decoding Common & Uncommon Terms

Navigating the Real Estate Jargon: Decoding Common & Uncommon Terms

Hello, fellow home enthusiasts! Mariah Sanford here, your dedicated guide in the intricate world of Real Estate. Today, let's embark on a journey to demystify the language of home buying and selling. Understanding these terms is key to making informed decisions on your path to homeownership.


Common Terms Made Simple:

  1. Escrow: The safe haven for your funds during the transaction process.
  2. Appraisal: An expert's evaluation ensuring your property's true worth.
  3. Closing Costs: The additional fees beyond the property price, covering various services.
  4. Earnest Money: A deposit made by the buyer to show their commitment, often held in escrow.
  5. Appraisal Gap: The difference between the appraised value and the agreed-upon purchase price.
  6. Home Inspection: An in-depth examination of a property's condition, helping buyers make informed decisions.
  7. Closing Cost Assistance: Financial help from the seller to cover some of the buyer's closing costs.

Uncommon Gems to Know:

  1. Easement: The right to use someone else's land for a specific purpose, like a shared driveway.
  2. Due Diligence/Contingency Period: The timeframe for the buyer to conduct inspections and address any concerns before finalizing the deal.
  3. PITI: An acronym encompassing Principal, Interest, Taxes, and Insurance in your mortgage payment.

In my experience, empowering clients with these terms fosters confidence in their real estate journey. It's not just about buying or selling; it's about understanding the nuances that make each transaction unique.


Even if you don’t end up committing these terms to memory, you can rest assured that throughout the entirety of the transaction, I will bring you much clarity, making this the smoothest Real Estate experience you’ll ever have, from start to finish.



Mariah Sanford, REALTOR®

Phone: (317) 934-6538

Email: MariahSanford@LevelUpNow.com