– “CMA” stands for “comparable market analysis,” or in my case, “competitive market analysis.” It is the standard tool used by Realtors to assess the value of a home on the open market. There are several different methods for determining value, including comparative analysis, book-ending, building cost, dead reckoning.


– This is the process that effects the final transfer of the deed from the seller to the buyer. Closing also finalize all
aspects of the mortgage of the property

Closing Costs

– These are the funds required at the time of closing (not to be confused with the down payment which is additional).
Closing costs can include: loan origination fees, discount points, recording fees, pre-paids and Attorney fees.
These closing costs can often equate to around 3% to 5% of the price of the property.


– These are conditions written into Real Estate offers and contracts to prevent a buyer from being forced to buy a
property that is unsatisfactory - either structurally or financially.
Here are some examples of contingencies:

"This offer is subject to the buyer's obtaining adequate financing."  
This could specify the maximum interest rate that you will pay or, that if the appraised value is less than agreed
upon purchase price, the contract can be voided and full deposit refunded or the contract renegotiated.

"This offer is subject to a satisfactory home inspection and buyer's approval of that report."
The inspection should be completed within a designated number of days.

"This offer is subject to the buyer's approval of a title insurance policy to be obtained at the seller's expense."

"This offer is contingent upon the seller's providing the required survey certificate to the buyer at the seller's

Please note - these are only examples and you should alway obtain proper legal advice from a real estate attorney
before adding, removing or altering clauses or signing any real estate contract.