Key Terms for Homebuyers

Key Terms for Homebuyers - KM Realty Group Chicago Infographic

Some Highlights.

  • Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford.
  • Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction.
  • Buying a home in the Chicagoland Area and Surrounding Suburbs can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect with KM Realty Group LLC, Chicago, so you have an expert guide and advice for any questions that may come up.