Category: Real Estate

A seller disclosure is the seller’s written statements about the property; a home inspection is an independent look at condition. Classroom language for two different machines — fiction and education, not a buy-or-skip verdict.

A counteroffer is a revised offer that still needs its own yes; acceptance is agreeing to a written version as written. Classroom language for two different machines — fiction and education, not a buy-or-sell verdict.

Possession is when you get the written right to occupy; closing is the funded, documented handoff. Classroom language for two different machines — fiction and education, not a buy-or-move verdict.

A backup offer is queued second place if the primary deal falls through; under contract means a signed purchase agreement is already in play. Classroom language for two different machines — fiction and education, not a buy-or-sell verdict.

Under contract means a purchase agreement is in play with conditions still open; sold means closed and funded. Classroom language for two different machines — fiction and education, not a buy-or-sell verdict.

Clear to close is an underwriting status; closed means funded and finished. Classroom language for two different machines — fiction and education, not a buy-or-close verdict.