What Does it Really Mean?

When you are buying or selling a Hoboken home you may hear some unfamiliar terminology.

To make things easier, here are several terms you should know:

Closing costs. This is a term that refers to any expense related to a real estate transaction. Generally, closing costs may include mortgage fees, attorney’s fees, transfer taxes, flood certification fees, title insurance and more.

CMA. A “comparative market analysis (CMA) is a list of comparable homes that are similar in location, size, features and condition to a particular home.

Fixture. A “fixture” describes anything that is attached to a property. A good example would be any light fixtures or wall to wall carpeting would qualify.

Listing. When a home has been listed as for sale by a realtor would be called a listing.

Realtor. A Realtor is a person is licensed as a real estate broker or salesperson and is a member of the National Association of Realtors.

Title. Title can be simply stated as ownership and to “to take title” would be to take ownership.

For more great reasons to buy a Hoboken home in 2010, please take a moment to read The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life-changing event. With low mortgage rates now available, this is the opportunity you have been waiting for. Make 2010 the year you purchase your dream home.

For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can also be reached by phone at 201-344-2886.

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