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Key Terms for Homebuyers [INFOGRAPHIC]

 

Some Highlights

  • Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford.
  • Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction.
  • Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Lean on a trusted advisor so you have an expert guide and advice for any questions that may come up.

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Our agents write often to give you the latest insights on owning a home or property in the Smoky Mountain area.