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Real Estate Glossary

As Is

Generally refers to the purchase of real property with all faults/defects included. The seller must disclose any known defects in the property in an “as is” purchase; the buyer may also have the right to inspect the property. However, the buyer has agreed to purchase regardless of the condition of the property.


A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.

Appreciation/Depreciation Trend

Estimated yearly appreciation or depreciation trend for a particular or similar properties in the same neighborhood

Asking Price

Price the property is listed for sale

Assessed Value

The valuation placed on property by a public tax assessor for purposes of taxation.


Items of value owned by an individual


Transfer of mortgage ownership from one company or individual to another