• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Chris Graves, Certified Mortgage Advisor

Providing Mortgage Services in MA, NH, ME, RI and FL

  • Home
  • Mortgage Tips
  • Real Estate Tips
    • Home Buyer Tips
    • Home Seller Tips
    • Market Trends
  • AVM
  • Apply
  • About
    • Contact
    • Profile
    • Testimonials
    • My Zillow Reviews
Home / Real Estate Information / Home Buyer Tips / Definitions On Common Real Estate Phrases In MA

08.08.12 Home Buyer Tips, Local Information

Definitions On Common Real Estate Phrases In MA

The home buying and selling process is complex enough already. Real estate phrases can complicate it further, particularly if it is your first time buying a home. Below you will find definitions on common real estate phrases in MA. This will help you better digest the buying and selling process.

Common Real Estate Phrases In MA

CMA

CMA stands for Comparative Market Analysis. This is a document that compares your real estate to similar-styled homes that recently sold in the area. It typically provides a price range for which your real estate may sell in the existing market.

MLS

MLS stands for Multiple Listing Service. This is a system where real estate professionals enter properties for sale. Different areas usually have separate MLS systems, and some states may have multiple ones. The general public is not given direct access to this date but may receive access through allowed parties.

Assessed Valuation

This is the value placed on homes by a local tax assessor and used to levy real estate property taxes. Assessed amounts have no bearing on the listing price of a home.

Walk-Thru

Walk-thrus commonly take place shortly before a closing. It permits a buyer to quickly inspect a home and to ensure that the condition has not altered from the last time the buyer inspected it.

Contract Terms

Contingency

A contingency is a condition required for an individual to proceed with a home sale or purchase. For example, the purchase could be contingent on the sale of their old property. Other frequently used contingencies are for performance of a home inspection and receipt of a loan commitment.

Good Faith Money

Good faith money applies to deposits submitted by a buyer as part of a contract to purchase real estate. It confirms that a buyer is serious and is moving forward in good faith. Deposits are almost always retained by the listing agency for a seller and returned to a buyer at closing.

Closing Date

A closing is when documentation is completed, funds are exchanged, and a home legally transfers from the seller to the buyer. P&S agreements always have a closing date and location specified.

More Real Estate Phrases

This article provides definitions on common real estate phrases in MA and entails only the most basic terms. For more detailed real estate terms and guidance, contact Christopher Graves at 781-759-1200 x22 or christopher.d.graves@gmail.com.

It's only fair to share...Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
Linkedin
Share on google
Google
Share on pinterest
Pinterest
Share on email
Email

Tags: MA

Chris Graves's avatar

Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

sidebar

Blog Sidebar

Blog Categories

  • Local Information (61)
  • Misc Topics (14)
  • Mortgage Information (118)
  • News (22)
  • Real Estate Information (176)
    • Featured Properties (2)
    • Home Buyer Tips (134)
    • Home Maintenance & Repair (12)
    • Home Seller Tips (40)
    • Market Trends (24)

ICYMI

MA Automated Home Valuation Websites Reliability

Tips On Choosing Contractors In Massachusetts

Determining If Condominium Insurance Is Needed In MA

How does this move in the Fed Funds Rate affect mortgage rates?

Advantages And Disadvantages Of Assisted Showings For MA Homes For Sale

Self Employed Mortgages

Are you or someone you know self employed and are interested in taking out a mortgage? Does the income that you claim on your tax returns not necessary as much as you really make? Well I have the product for you. It is called a bank statement loan! Watch this 49 second video to learn more. I can ... Read More

New Freddie Mac Self Employed guideline

If you are self employed and you are looking to explore your mortgage options you need to listen to this one minute video! Contact Christopher Graves, Loan Officer at 978-376-5389 or PM me here. #selfemployed#selfemployedmortgage ... Read More

Could there be an opportunity brewing in real estate?

Could there be an opportunity in real estate? Listen to this 47 second video to find out how! PM me here or call/text 978-376-5389 for a no cost or obligation analysis. #realestate #purchase #windhamnh #boston #cma #1sttimehomebuyer #investor #massachusettsrealestate #nhrealestate #mainerealestate ... Read More

DSCR Loans

What is a DSCR Loan? The debt service coverage ratio percentage is used by lenders to determine the cash flow on an investment property. This allows the mortgage lender to access the borrower's ability to repay the mortgage loan. The DSCR percentage is calculated by dividing the market rent by ... Read More

What the Recent Fed Hike Could Mean to the Housing Market

To help fight inflation, the Federal Reserve has hiked its benchmark Fed Funds Rate six times this year, including their most recent hike of 0.75%, taking the Fed Funds Rate from 0.25% to now 4.0%. Remember, the Fed Funds Rate is the overnight borrowing rate for banks, and does not directly affect ... Read More

Disclosure

Company NMLS 1788.
Licensed by the New Hampshire Banking Department #13092-MB.
Licensed in Massachusetts.
Lender and Broker License #MC-1788.
http://www.nmlsconsumeraccess.org
Click Here for Our Privacy Policy

Footer

Chris Graves, Certified Mortgage Advisor

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Contact Chris

Direct/Mobile: 978-376-5389
264 South River Rd, Suite 550
Bedford, NH, 03110
603-458-5107 x201

Topics

  • Local Information (61)
  • Misc Topics (14)
  • Mortgage Information (118)
  • News (22)
  • Real Estate Information (176)
    • Featured Properties (2)
    • Home Buyer Tips (134)
    • Home Maintenance & Repair (12)
    • Home Seller Tips (40)
    • Market Trends (24)

Disclosure

Company NMLS 1788.
Licensed by the New Hampshire Banking Department #13092-MB.
Licensed in Massachusetts.
Licensed in Maine.
Licensed in Florida.
Lender and Broker License #MC-1788 (Not Licensed in Alaska or New York)
http://www.nmlsconsumeraccess.org
Click Here for Our Privacy Policy

COPYRIGHT 2022 © CHRIS GRAVES, ALL RIGHTS RESERVED