Seller's Understanding Basics
Selling your home can come with a lot of unfamiliar terms and steps—but it doesn’t have to be confusing. That’s why we created SUB—a simple guide to help you understand the most common real estate terms every seller should know. Whether you're just starting to think about listing your home or already preparing to sell, SUB will help you feel more confident and in control throughout the process.
SUB Glossary
Listing
An ad that shows a house is for sale.
Asking Price
The amount of money you want someone to pay for your house.
Real Estate Agent
A person who helps you buy or sell a home. They know what to do and help you make smart choices.
Commission
The money you pay your agent when your house gets sold. It’s usually a small part of the sale price.
Offer
The price you tell the seller you want to pay for the house.
Counteroffer
When you don’t like the first offer, you can offer a different price or change the deal a bit.
Contingency
A rule that says something has to happen before the sale is final, like the house passing inspection.
Closing
The last step—when you sign papers and finally get the keys to your new house.
Staging
Getting your house ready to look its best so buyers will want it.
Appraisal
A check to see how much the house is really worth.
Inspection
When a pro looks at the house to make sure everything works and there are no big problems.
Disclosure
Telling the buyer about anything important or wrong with the house—like a leak or a broken heater.
Equity
The part of the house you really own, not the bank. It grows as you pay off your loan.
Title
A paper that proves who really owns the house.
Closing Costs
Extra fees you pay when you finally buy the house, like for lawyers or paperwork.
Market Value
What your house is worth based on what other homes are selling for nearby.
CONTACT US
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CALL OR EMAIL US:
(615) 200-6448
MAILING ADDRESS:
10 Burton Hills Blvd Ste 400
Nashville, TN 37215