24 guides
Property explainers
- What Is Escrow in Real Estate? Two Meanings Explained Escrow means two things in real estate: the closing process and the mortgage account that pays your taxes and insurance. Here is how both work.
- Title Insurance Explained: What You Pay For and Why Title insurance costs $500 to $3,500, paid once at closing. Here is the difference between the lender and owner policies, who pays for each, and what is optional.
- Seller Concessions Explained: Credits, Limits, and Asking Seller concessions are credits toward your closing costs, capped at 3 to 6 percent by loan type. Here is when to ask for them and whether a price cut helps more.
- Rental Property Taxes: What Landlords Can and Cannot Deduct Landlords can deduct mortgage interest, repairs, insurance, and depreciation on Schedule E. Here is how each works and the passive activity rules that cap losses.
- Rental Property Insurance: What Landlords Actually Need A standard homeowners policy does not cover a rental. Landlord insurance costs 15 to 25 percent more. Here is what each policy covers and the gaps to fill.
- Rent Increase Laws by State: Notice and Caps Most states require 30 to 60 days written notice before a rent increase. Some states cap annual rent hikes. Here is what landlords and renters need to know by state.
- Real Estate Terms Glossary: 35 Definitions Explained Plain-language definitions of 35 essential real estate terms -- from contingencies to amortization -- so you can read contracts and listings with confidence.
- Property Management Fees: What You Actually Pay Property managers charge 8 to 12 percent of monthly rent plus a leasing fee of 50 to 100 percent of one month's rent. Here is every line item with typical ranges.
- Mortgage Points Explained: Are They Worth Buying? One discount point costs 1 percent of the loan and typically cuts your rate by 0.25 percent. Here is how to calculate break-even and decide if points are worth it.
- How to Break a Lease Early: Legal Options and Costs Breaking a lease without legal grounds typically costs 1 to 2 months rent. Here are the situations where you can exit penalty-free and the steps to take.
- Eviction Process for Landlords: Steps, Timeline, Costs An eviction takes 30 to 180 days depending on the state. Here is the step-by-step process, required court filings, and what landlords cannot do legally.
- How to Read a Closing Disclosure: Page by Page Your closing disclosure lists every fee you owe at closing. Here is how to read each page, compare it to your loan estimate, and what errors to flag before you sign.
- How Long Does It Take to Buy a House? Home purchases take 45 to 60 days from offer to closing, but the process starts weeks earlier. Here is a week-by-week breakdown from preapproval through closing day.
- Home Appraisal Explained: Cost, Process, Low Options A home appraisal typically costs $300 to $600 and takes 7 to 14 business days. Here is what appraisers evaluate, who pays, and your options if it comes in low.
- HOA Fees Explained: What They Cover and What to Watch For HOA fees typically run $200 to $300 per month but can top $2,000. Here is what fees cover, how to review the reserve fund, and the risk of special assessments.
- HELOC vs. Home Equity Loan: How to Choose A home equity loan gives a lump sum at a fixed rate. A HELOC is revolving credit at a variable rate. Here is how to choose between them and the risk both carry.
- Landlord Habitability Requirements: What You Must Provide The implied warranty of habitability sets minimum housing standards for landlords. This guide covers what it includes, how state laws vary, and tenant remedies.
- First-Time Homebuyer Programs by State: Down Payment Help Every state has a housing finance agency offering down payment assistance for first-time buyers. Here is where to find programs and how income limits work.
- Earnest Money Explained: How Much and When You Lose It Earnest money is typically 1 to 3 percent of the purchase price, held in escrow. Here is when it applies to closing costs and when you can get it back.
- Real Estate Contingencies Explained: What Each One Does A contingency lets you exit a home purchase and keep your earnest money if a specific condition is not met. Here are the main types and when waiving one is risky.
- Cash Offer on a House: How It Works and Why Sellers Care A cash offer removes the financing contingency and can close in 7 to 14 days. Here is what sellers gain, what cash buyers give up, and how to compete without cash.
- Capital Gains Tax on a Home Sale: The $250K/$500K Rule Most sellers owe no capital gains tax on a home sale thanks to the $250,000 or $500,000 married exclusion. Here is how the rule works and what disqualifies you.
- Buyer's vs. Seller's Market: How to Tell the Difference In a seller's market, homes sell fast with multiple offers. In a buyer's market, listings sit and sellers negotiate. Here is how to identify which market you are in.
- Buyer Agent Agreements Explained: What You Sign Since August 2024, buyers must sign a written agreement with their agent before touring homes. Here is what the contract says, costs, and how to negotiate.