Buyer Agent
A buyer agent is a real estate agent who represents you during the purchase of a home. A buyer agent walks you through the homebuying process, offers advice, schedules home tours and explains the pros and cons of neighborhoods and properties. The buyer agent also presents offers and negotiates on your behalf.
Certified Check
A certified check is guaranteed by a bank or financial institution. They’ve verified that sufficient funds exist in the account to cover the check and have set those funds aside. Thus, a certified check essentially functions as cash.
Closing
The final step in taking ownership of a purchased property. At closing, you sign legal documents, make your down payment and pay closing costs.
Closing Costs
Fees paid at the closing of a real estate transaction, including fees from your lender or third parties for services involved in the transfer of property, such as appraisals, inspections and title searches.
Closing Disclosure Statement
At least three days before closing, your lender will provide you with a Closing Disclosure Statement which details exact closing costs
Credit Report
Three independent reporting agencies (Equifax, Experian and TransUnion) provide credit reports, which include a person’s credit history and current debt.
Credit Score
Based on your credit report, your credit score is a three-digit number representing creditworthiness. Your credit score identifies you as having excellent, good, fair, poor or bad credit.