CLOSING COSTS: The fees due at the closing of a real estate transaction. Both the buyer and seller will incur expenses during the closing process including application fees, inspection fees, homeowners insurance, property taxes and the agent commission for the sellers portion of the transaction.
COMPARABLE (OR COMP): A recently sold property is used to determine the value of a similar property. Comparables are often used to find the fair value of a home.
COMPARATIVE MARKET ANALYSIS (CMA): A process used to determine the value of a home based on the sales prices of similar properties in the area.
CONCESSION: A benefit or discount offered by the buyer or seller to help sell a home.
CONTINGENCY: A condition that must be met for a real estate contract to be finalized or closed.
CURB APPEAL: What gives someone their first impression of a property or how we judge the attractiveness of a property from the sidewalk (i.e. before you even step inside).