Have you ever wondered what certain terms mean when you are in the process of buying or selling a home in Ann Arbor or Washtenaw County?
As Realtors we live with terms everyday, but as a consumer, you may only buy or sell a home a few times during your life time.
First time home-buyers in particular get confused about exactly what they are signing. I remember the first home we bought back in 1979, we went FHA and were living in Alabama at the time. There was so many documents to sign, we trusted our Realtor and just signed away.
Follow this link to read a complete Dictionary of Real Estate Terms. They are alphabetized so it will not be hard to find exactly what you are looking for clarification on.
If you don’t understand what you are signing ask your Realtor or Attorney. There is no question too dumb to ask. As a Realtor we deal with the Ann Arbor Area Board of Realtor Contracts daily.
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