"My name is Tommy and I called CRN for a foreclosure list. The very first one I check out I nailed and thank god I even got $16,000 less than the price they were asking. I will just go ahead and tell you they wanted $39,999. I gave them $23,500 and it even had 2 acres of land with it. There is about $3,000 worth of renovation or remodeling to do but that is it. It has a big front porch and a 2-car garage built on to it and the living room has a beautiful fireplace with custom fitted cabinets on both sides. I will be an old man in a rocking chair overlooking my land sitting on the porch of my house on the hill with a peaceful mind and a settled heart. Thank god for CRN."

- Tommy L.

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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

A:B:C:D:E:F:G:H:I:J:K:L:M:N:O:P:Q:R:S:T:U:V:W:X:Y:Z


T


tax deduction
A tax break given by the government. Mortgage interest, loan points, and property taxes can be deducted.
tax lien
A lien placed against a property for nonpayment of taxes.
title
The legal document conferring ownership of a piece of real estate.
title insurance
The insurance that protects the lender and--if an owner's policy is purchased, the homeowner--against loss resulting for any inconsistencies in the title of a property from liens or other title problems relating to a property.