Glossary of Real Estate Terms

The words and expressions used by doctors, lawyers, and other professionals may sometimes sound like a foreign language. Because real estate terms also can be confusing, here is a mini-glossary of some of the most common ones:

* Agency: The relationship that a real estate agent has with a client.
* CMA: Comparable Market Analysis, a home evaluation based on properties that have sold in the neighborhood similar to the property being priced.
* Disclosure: An oral and/or written communication about agency, property condition, or other key factors.
* Earnest Money: A good-faith deposit provided as consideration when a buyer offers to the seller of a property a contract to purchase the property.
* MLS: Multiple Listing Service, information on properties that is shared among brokers belonging to a specific multiple listing organization.
* Purchase and Sale Agreement: A contract from the buyer to the seller offering to purchase the property for a certain price.

When you're ready to sell your home, I'll be happy to explain all the terms and transaction details and walk you through the entire process.