A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Closing CostsThe fees paid to finalize a home purchase, covering things like appraisal, title work, and loan processing.
- Property TaxA tax local governments charge on the value of real estate you own, funding schools and community services.
- Homeowners InsuranceCoverage that protects your house and belongings against damage and covers you if someone is hurt on your property.
- Title InsuranceCoverage that protects you and the lender against hidden ownership claims or legal disputes over a property.
- Earnest MoneyA good-faith deposit you put down when making an offer to show a seller you are serious about buying.
More in Real Estate
Plain-English education — not personalized legal, tax, or investment advice.