Real estate professionals often use specific "rules" to help buyers determine if they can afford a home:
: The portion of the home's value that you actually own, calculated as the market value minus your remaining mortgage balance. house buying terms
: The primary contract between a buyer and seller that outlines the price, terms, and conditions of the sale. Real estate professionals often use specific "rules" to
: The legal process of transferring property from one owner to another. 3. Guidelines for Affordability house buying terms
When people refer to the "papers" for a house, they usually mean the documents that prove you own it or the legal contract used to buy it.
: A neutral third party that holds funds and documents until all conditions of the sale are met.