Key Takeaways A real estate agent is licensed to assist buyers and sellers with real estate transactions; a Realtor is a real estate agent who is also a member of the National Association of Realtors (NAR). NAR membership comes with access to MLS databases, the NAR Code of Ethics, and various professional resources — about […]
Realtor Vs. Real Estate Agent: What’s the Difference? Read More »
Key Takeaways REO (Real Estate Owned) properties are lender-owned assets — banks and servicers typically sell them at a discount to move inventory quickly. REO listings are often sold as-is, meaning the seller won’t make repairs — a thorough home inspection and title search are especially important. REO titles sometimes carry subordinate liens, HOA arrears,
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Key Takeaways BRRRR (Buy, Rehab, Rent, Refinance, Repeat) is a strategy to recycle capital: buy distressed property at below-market price, renovate, rent it, then cash-out refinance to pull out equity for the next deal. The key to BRRRR math: the after-repair value (ARV) must be high enough that the refinance proceeds cover your original purchase
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Key Takeaways An escalation clause automatically increases your offer above a competing offer by a set increment, up to a maximum — designed to win multiple-offer situations without overpaying. Escalation clauses require the seller to provide proof of the competing offer that triggered the escalation — without this, you can challenge an unsubstantiated claim. The
What is an Escalation Clause in Real Estate? Read More »
Key Takeaways Tenancy by the entirety is a form of joint ownership available only to legally married couples — it includes right of survivorship and protects the property from claims against one spouse individually. In Virginia, Maryland, and DC, tenancy by the entirety is recognized and provides strong protection against one spouse’s creditors — neither
What Does Tenancy by the Entirety Mean For Couples? Read More »
Key Takeaways House hacking means owner-occupying a multifamily property (duplex, triplex, or fourplex) and using rental income from other units to offset or eliminate your housing cost. FHA financing allows house hackers to purchase with as little as 3.5% down on 2–4 unit properties if owner-occupying — one of the best-leveraged entry points in real
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Key Takeaways ‘Clear to close’ (CTC) is a lender’s confirmation that all underwriting conditions have been met and the loan is approved to fund — it typically comes 1–3 days before the scheduled closing date. CTC does not mean the deal is done: the title company still needs to prepare the closing disclosure, confirm the
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Key Takeaways Title vesting determines how you own a property — sole ownership, joint tenancy, tenancy in common, community property, or in an LLC or trust. Joint tenancy includes the right of survivorship: when one owner dies, their share passes automatically to the surviving owner(s) without probate. Tenancy in common allows unequal ownership shares and
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Key Takeaways Capital gains on real estate are the profit above your adjusted cost basis — purchase price plus improvements made over the ownership period minus depreciation taken. The primary residence exclusion allows single filers to exclude up to $250,000 in gains ($500,000 for married filing jointly) if the home was owned and lived in
What is Capital Gains Tax on Real Estate? How Do I Calculate It? Read More »
Key Takeaways The foreclosure home buying process: find properties (courthouse steps, bank REO listings, HUD Home Store), conduct title and lien due diligence, and understand the as-is purchase terms. Properties sold at courthouse auction are typically sold as-is with limited or no inspection access — title issues, back taxes, and unknown liens are the buyer’s
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