Learn the Basics, the Lingo, and the Opportunities

Real Estate Strategy 101

Investing in real estate is well-known as one of the most effective ways to increase your wealth.

It also can have the added benefit of generating passive income, which allows you to clear out your daily schedule and pursue other passions.

Unfortunately, most people don’t understand all the ways they can invest in real estate or even the lingo that’s associated with the industry.

The real estate game can seem a little overwhelming when you are just getting used to the industry’s lingo. Let’s explore some you’re most likely to encounter when you start shopping for a property or are about to make your first offer!

Terms Related to the Purchase Process Offer / Purchase Agreement

This is a document you as the buyer give to the seller, which expresses the amount you are offering to pay and the terms of your offer. The seller would sign this document and at that point, you would have a completed “purchase agreement.”

Earnest Money/ Deposit

Your “deposit” or “earnest money” is an agreed-upon sum that you put down in order to secure the sales contract and open escrow.

Title Company/ Title Insurance

Title research is done to be sure the property is clear of any outstanding obligations and ready to be sold. A lien, for example, could be discovered during this process, and delay the finalization of the sale.

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