A to Z guide
All the terms you've heard (or haven't) from sales and finance to construction, we've broken down here, so you're always in the know.
Condo
A form of ownership where the buyer owns his/her unit and the condominium association owns the rest. Often with a Condo, you have a neighbor above or below you.
Flex room
A room of at least 70 square feet that is outside the core bedroom, bathroom, kitchen, dining, great room configuration.
Homeowners association (HOA)
An organization in a planned community or condominium complex that establishes and enforces rules and regulations for the properties within its jurisdiction.
Housing market
Overall supply and demand for housing in a particular area, including factors such as home prices, inventory levels, and market conditions.
Listing
A property that is available for sale. It includes details such as the price, location, and features of the property.
Offer
The formal proposal made by a buyer to purchase a property at a specific price and under certain conditions.
Online reservation system
Our online portal where you can choose an exterior, lot, and design interior features, and then reserve a home online for 48 hours with a $100 hold.
Open house
An event organized by a seller or their real estate agent to showcase a property to potential buyers. It allows interested parties to view the property without scheduling an appointment.
Purchase Agreement
Also known as a sales contract or purchase contract, this is a legally binding agreement between the buyer and seller that outlines the terms and conditions of the home purchase, including the purchase price, closing date, and any contingencies.
Single-family home
A standalone residential structure designed to house one family, typically consisting of one dwelling unit with its own private entrance and yard.
Townhome
A building type, most defined by the phrase “extends from foundation to roof”, which is to say you never have a neighbor above or below.
Warranty
A service contract that provides coverage for repairs or replacements of major home systems and appliances, typically for a specified period of time after the purchase of a home.
