"I called an 800# in the newspaper and paid $1.99 to CRN. I got my username and password to go on the internet. I called on a house (condo) listed in the area I wanted. The condo was sold but Paul R. (realtor) directed me to another foreclosed condo. In two weeks I owned the property. Thanks CRN."

- Jeanene S

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Glossary of Terms


We have compiled a list of the most common real estate terms and definitions to assist you in your search for a home. Whether you are a buyer or seller of real estate it is easy to get confused by the language used in real estate transactions. With our comprehensive real estate glossary you can easily navigate through the complicated world of buying and selling a home.

Click in the letter below to see the glossary

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E


earthquake insurance
A policy that provides coverage against damage to a home from an earthquake.
easements
An easement is the right of use over the real property of another.
Equifax
Equifax Credit Information Services, Inc., is one of the "Big Three" credit-reporting bureaus that operate nationwide. Address: P.O. Box 740249, Atlanta, GA 30374. URL: http://www.equifax.com. Phone: (800) 685-1111.
escrow
A neutral third party holds documents and money for a real estate transaction and ensures that all conditions of a sale are met. Also refers to a special account that a lender uses to hold a borrower's monthly payments on property taxes and insurance.
escrow account
An account set up by a lender to which the borrower makes monthly payments for such obligations as real estate taxes, homeowners insurance, and private mortgage insurance. The lender disburses these funds on behalf of the borrower as the bills become due.
escrow agent
The person or organization having a fiduciary responsibility to both the buyer and seller (or lender and borrower) to see that the terms of the purchase/sale (or loan) are carried out. Also called escrow company or escrow depository.