Real Estate Glossary — Cash Home Buying Terms Explained

Selling your home fast means making quick, informed decisions. Understanding the terminology that cash buyers, real estate attorneys, and title companies use can help you evaluate offers, ask the right questions, and close with confidence. This glossary defines the most important real estate terms for homeowners considering a direct cash sale — from ARV and closing costs to probate, foreclosure, and contingencies. Each definition connects the concept directly to what it means for your sale.

All 15 Terms

ARV (After Repair Value)
The estimated market value of a property after all necessary repairs and renovations have been completed.
Cash Buyer
A real estate buyer who purchases property using liquid funds without mortgage financing.
As-Is Sale
A real estate sale where the property is sold in its current condition with no repairs required.
Closing Costs
Fees and expenses paid at the time of a real estate closing by the buyer, seller, or both.
Title Company
A company that examines and insures real estate titles and facilitates property closings.
Probate
The legal process through which a deceased person's estate is administered and assets are distributed.
Foreclosure
The legal process by which a lender repossesses a property after the borrower defaults on mortgage payments.
Short Sale
A sale where the property sells for less than the outstanding mortgage balance, with lender approval.
Home Equity
The portion of a home's value that the owner actually owns, calculated as market value minus outstanding mortgage balance.
Lien
A legal claim against a property that must be satisfied before or at the time of sale.
Days on Market (DOM)
The number of days a property has been actively listed for sale on the MLS.
Contingency
A condition in a purchase contract that must be satisfied for the sale to proceed.
Earnest Money Deposit (EMD)
A deposit made by a buyer to show serious intent to purchase a property, held in escrow until closing.
Comparable Sales (Comps)
Recent sales of similar properties used to estimate a home's current market value.
Real Estate Wholesaling
A real estate investment strategy where an investor contracts to buy a property and assigns the contract to another buyer for a fee.

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