The database where real estate agents list homes for sale.

The agent who represents the seller.

The agent who represents the buyer.

A written proposal from a buyer to purchase a home.

The legal contract that outlines the terms of the sale.

The moment when both buyer and seller have signed the contract and agreed to all terms.

A deposit that shows the buyer is serious about purchasing the home.

The day the property officially transfers to the buyer.

A neutral third party that holds money and documents until the sale is complete.

A letter from a lender stating how much money a buyer can borrow.

A condition that must be met for the sale to move forward (inspection, financing, etc.).

A professional evaluation of the home's condition.

A lender-required valuation of the home to confirm its worth.

Insurance that protects the buyer from ownership disputes or title issues.

Fees paid at closing (lender fees, escrow fees, title fees, etc.).

A Buyer Representation Agreement is the contract between a buyer and their real estate agent. It explains that the agent represents the buyer and outlines how the agent will be paid.

In Washington State, written buyer agreements are standard practice and required before an agent shows homes or writes offers.

The contract between the seller and the listing agent.

The price a seller advertises the home for.

A report showing similar homes that have sold to help determine value.

How long the property has been listed for sale.

A Washington State form where sellers disclose known issues with the property.

When more than one buyer submits an offer on the same home.

The rate of return based on the income the property produces.

Money left after expenses from a rental property.

A tax strategy allowing investors to defer capital gains by reinvesting into another property.

Increase in property value over time.

The difference between the property's value and what is owed on the mortgage.

A property rented for short stays (Airbnb, VRBO, etc.).