Adding your home to the inventory of Las Vegas homes for sale is a stressful experience for many property owners; not only do you need to prepare your home, but you have to wait for the right buyer to come along. Education about the home-selling process is one way to combat your feelings of apprehension and nervousness. The more you understand about selling a home, the more confident you'll be when your home is on the market. Brush up on your real estate knowledge with these real estate terms you might hear throughout the home selling process. 

1. Appraisal: An impartial opinion from a certified and licensed appraiser concerning the value of a home. This opinion is based on a walkthrough of the home and data from comparable properties.
   
   
2. Buyer's Agent: A real estate agent that only represents the homebuyer in a real estate transaction.
   
   
3. Buyers Market: A real estate market with more homes for sale than qualified buyers.
   
   
4. Closing: A meeting when ownership of a home is transferred from the seller to the buyer.
   
   
5. Closing Costs: The fees required to purchase a home that are due by the closing date.
   
   
6. Closing Disclosure: A document received by the homebuyers three to five days before closing that detail the terms of the loan and the required closing costs to purchase the property.
   
   
7. Comparative Market Analysis: An in-depth report from a real estate agent that provides an estimated value for a property. This report is based on sales data from homes in the same area with a similar size and comparable features that have recently sold.
   
   
8. Contingencies: Specific conditions covered by the home contract that protect the buyer in certain circumstances. Common contingencies are related to the inspection, the appraisal, or financing.
   
   
9. Days on Market: The number of days a property has been an active listing available for sale.
   
   
10. Dual Agent: A real estate agent who represents both the buyer and the seller.
    
    
11. Earnest Money: A security deposit made by the buyer that demonstrates their serious intent to purchase a property.
    
    
12. Home Inspection: A visual examination of a property to determine its overall condition and any areas of concern.
    
    
13. Listing Agent: The real estate agent who represents the seller in a real estate transaction.
    
    
14. Listings: Homes that are for sale. The term listing can also refer to a webpage dedicated to showcasing the details about a specific property.
    
    
15. Offer: An official document that details the price a buyer is willing to pay for the property and any conditions that they want the seller to accept as part of the deal.
    
    
16. Pre-Approval Letter: A letter that states the loan amount a lender has approved a homebuyer for. This figure is based on the homebuyer's income, assets, and creditworthiness.
    
    
17. Sellers Market: A real estate market when there are more buyers than available homes for sale.
    
    
18. Survey: An independent inspection that determines the exact property lines for a land parcel.
    
    
19. Title Insurance: A form of insurance that protects the homebuyer and the lender if an individual or entity comes forward and lays a previous claim to the property.
    
    
20. Under Contract: The period of time after a seller has accepted an offer and before the closing date.
    
    
21. Underwater: A situation when the seller of a home owes more than the property is worth.
    
    
22. Walkthrough: The buyer's final inspection of a home before the closing date. 

Want to know more about the process required to sell your home? Contact us today for help from our real estate agents.