Real Estate Terminology You Should Know (Without loosing your mind)
- Kat Moore — The German Realtor®
- Aug 29
- 2 min read
Ever feel like real estate is just alphabet soup? HOA, EMD, PMI, MLS… let’s sort this mess into neat little categories so it actually makes sense.
🏡 Terms Related to Property & Value
MLS (Multiple Listing Service): The giant database where all active listings live. It’s like Zillow’s serious, more reliable cousin.
Appraisal: A professional value check — what the bank says your house is worth.
Inspection: A professional condition check — what an inspector says needs fixing.
Title: Your legal right to own the property.
Deed: The paper that proves you own it.
HOA (Homeowners Association): The neighborhood’s rulebook + monthly fee. Sometimes it means a pool, sometimes it means no purple doors.
💡 If all these terms are making your head spin, don’t worry—I speak “real estate” and plain English. Reach out here.
📑 Terms Related to Transactions & Contracts
EMD (Earnest Money Deposit): A buyer’s “good faith” deposit (usually 1–3% of the price) that shows commitment. Held in escrow until closing.
Settlement (a.k.a. Closing): The big day when the deal is finalized and keys change hands.
Contingency: An “if/then” clause that protects buyers (and sometimes sellers). Example: If the home doesn’t appraise, then the buyer can renegotiate or walk away.
Addendum: An extra page that gets added to the contract for specific terms (HOA rules, radon, etc.).
💰 Terms Related to Financing
Down Payment: The upfront money buyers put toward the home (often 3–20%, depending on the financing).
PMI (Private Mortgage Insurance): A fee added when buyers put less than 20% down — it protects the lender, not the buyer.
Pre-Approval: A lender’s “green light” that you’re qualified for a mortgage (very helpful before shopping).
Closing Costs: Extra costs at settlement — title fees, lender fees, transfer taxes, etc. (usually 2–5% of the purchase price).
👉 Not sure if you need to memorize every definition? Spoiler: you don’t. You just need someone who can explain the important ones when it matters. Click here to connect.
👩💼 Terms Related to Real Estate Professionals
Listing Agent: The Realtor representing the seller.
Buyer’s Agent: The Realtor representing the buyer.
Broker: The licensed pro who oversees agents and holds their licenses.
Dual Agency: One brokerage represents both the buyer and the seller in the same transaction (legal in Maryland with written consent and under certain conditions, but not always ideal).
👉 Bottom line: Real estate isn’t meant to be a foreign language. Once you break down the terms, the whole process feels a lot less intimidating. Ready for me to decode it for you, step by step?
Kat Moore | Realtor | Advisor
Samson Properties
📞 410-414-5967 (cell), 443-975-7555 (office)
⚠️ Disclaimer: I’m not an attorney or lender. I'm a licensed real estate agent. This post is intended for general informational purposes only. Always confirm details with your Realtor, lender, title company, or attorney.
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