Get in touch 
Regina: 
253-381-6685
regina@windermere.com

Madison: 
253-686-7383
madisonlord@windermere.com
Say What? Home-Buying Lingo You Should Know
RM Home Specialists • Oct 09, 2019

If you are a first time home buyer or even a repeat buyer, you quickly realize that real estate has a language all its own. Understanding some of the lingo can help you navigate the process a little easier. By learning a few critical terms, you will be in a better position to ask the right questions and make the best decisions.

  • Buyer’s Market – A real estate climate where the number of listings outnumber qualified buyers.
  • Seller’s Market – A real estate climate when there are very few desirable properties listed for sale.
  • Contingencies – Specific conditions included in an offer to protect the buyer against unexpected situations, such as inspection, loan approval, and appraisal value.
  • Earnest Money – Money deposited when the offer is accepted. Subject to any contingencies, this money protects the seller from a buyer who simply changes her mind.
  • Escrow Agent – A neutral 3rd party who manages the paperwork in a state where attorneys are not used to conclude the contract.
  • Closing Costs – Fees that must be paid by both buyers to conclude the sale.
  • Conforming Loan – A conforming loan is a loan limit by which the loan can be sold on the secondary market; a jumbo loan is one which is higher than this limit.
  • PMI – PMI, private mortgage insurance is a fee paid by the borrower of a loan that they obtained with less than a 20% down payment.

These are just a few of the common terms used in real estate. If you are involved in a real estate transaction, learning a bit of the common lingo will help you understand the process better and make your home sale or purchase a smooth one.

Local Pumpkin Patch Guide

By RM Home Specialists • 08 Oct, 2024
It's PUMPKIN SEASON. Trader Joe's has wrap-around lines, the crisp morning air, and our weekends are filled with football and friends. We’re incredibly fortunate here in the South Puget Sound to have several amazing pumpkin patches hosted by local and family-owned farms.

Timeless Charm and Modern Convenience

By RM Home Specialists • 04 Oct, 2024
When you come across a home that perfectly marries timeless charm with modern convenience, the decision is easy. Welcome to 4605 N 30th St in Tacoma, a true gem offering style, comfort, and versatility.

East Tacoma Gem with 2 Primary Suites

By RM Home Specialists • 26 Sep, 2024
Nestled in the heart of East Tacoma, this beautifully remodeled home offers the perfect setup for multi-generational living. With two spacious primary suites, each providing privacy and comfort, this home is thoughtfully designed to bring families together while still offering the independence everyone needs.
Show More
Share by: