When Buying or Selling a Home…


Listing Agent The agent representing the seller
Buyer’s Agent The agent representing the buyer; aka the Selling agent
Offer Contract Documents signed by the buyer as written proof of an offer for a property. An accepted offer is signed and dated by the seller. Once accepted the offer becomes a legal and binding contract
Multiples The seller has received more than one written offer on the property
Highest and Best The highest and strongest offer a client is willing to write and submit to the seller
Prequalification A letter signifying the potential buyer has verbally stated their credit and financial information to the lender; however, much of this information has not been verified
 Preapproval  A form issued by a lender indicating the price they are comfortable letting the client borrow money; based on credit and proof of income
DTI Debit-to-income, which is the ratio used by lenders to help determine how much a client can borrow
LTV Loan-to-value, which is a ratio used by lenders to determine what percentage of a property’s value is covered by the loan amount
DTI Debit-to-income, which is the ratio used by lenders to help determine how much a client can borrow
DTI Debit-to-income, which is the ratio used by lenders to help determine how much a client can borrow