What does that mean anyway: Real Estate Lingo
Real Estate brokers have sometimes been accused of “shortening our words” or using terms that we think everyone already knows! So, here’s a little helpful guide, if you have trouble navigating real estate terminology!
What it says versus What it means
conveys with sale … it will STAY with the home
EIK … eat in kitchen
SS … stainless steel
HDW, HWF, Hdwd ….. hardwood floors
WIC …walk-in-closet
FDR ….. formal dining room
MLS...multiple listing system
FSBO ….. for sale by owner
Pre-approval … based on information you are able to provide to the lender. This will look much better than a pre-qualification to the seller.
Pre-qualified …. based on a 5 minute phone call to the lender and only on what you tell the lender. This is needed in order to even make an offer on a home.
due diligence funds …the funds the buyer gives the seller at time of contract to “buy time” off the market while they do their due diligence
due diligence or DD…all of the inspections and loan process, etc a buyer can exercise on a prospective home during their due diligence time period
Due diligence money- is non-refundable The good news is the money is typically credited towards the purchase of the home at closing.
Earnest money is “good faith” money. The buyer is showing the seller they are serious about buying the home.
contingency … a contract on a home that is dependent on you selling your existing home
3 BR/2BA 3 bedrooms and 2 baths
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I’m sure we’ve missed a few, feel free to leave comments with any you might still be wondering about and we’ll do our best to define them.
We are here to help you navigate your real estate needs and ALL the terms that come along with that!
Welcome home!
We recently had an opportunity to catch up with Eric Coates of Detailed Home Inspections Inc. about the affects that water can have on your home. Here is what he shared with us.
Water is not your house’s friend!
I really do love my job. However, there are days that I do not like my job. Hurricane Matthew came
through our area in 2016. It dumped 10 inches of rain that day. I had the privilege of performing two
home inspections that day! 
We chatted with Janice Durham, VP, Branch Manager of the Fuquay-Varina First Bank location, about what it means to bank locally and keep your dollars not only in state but right in your own hometown.
Banking local and shopping local share the same goal: to ensure your dollars have the largest impact on your community. Reports show that of every $100 spent at locally owned businesses, $68 goes straight bank into the community (compared to $43 when shopping at a large chain).
Similarly, by choosing a local bank over a large, national bank means that your dollars stay here for investment in small business development; in the organizations that lend and provide services to your friends, family, or neighbors; and in the community itself.
What Makes a Community Bank Different? 






