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Real estate terms for Wisconsin home buyers to know

MADISON, Wis. - Aug. 1, 2014 - PRLog -- Buying a home is an involved process and it can be both exciting and confusing, too.  Not only may you not be familiar with the process itself, but the real estate industry has many terms that are important to know that may be unfamiliar to you.  Your First Weber agent is there to answer any questions you might have throughout the entire home buying process.

Here are a few real estate terms you should be aware of.

A right of way giving persons other than the owner access to or over a property.

Homeowner’s Insurance: An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents.

Lien: A legal claim against a property that must be paid off when the property is sold.

Mortgagee: The lender

Mortgagor: The borrower

Amortization: The gradual repayment of a mortgage loan by installments with regular payments that cover both principal and interest.

Prequalification: The process of determining how much money a prospective buyer will be eligible to borrow, before they apply for a loan

Preapproval: A higher level of buyer/borrower prequalification required by a mortgage lender.

There’s an important difference between the last two terms.  Not getting preapproved means not knowing for sure how much you can borrow. Don’t fall in love with a home you can’t buy!

The See Team is the premiere real estate team in the greater Madison and Middleton Wisconsin area. We have over 60 years of combined experience in real estate, and we know the towns where you want to buy a new home or sell your home: Madison, Middleton, Verona, Sun Prairie, Waunakee, Fitchburg, Spring Green, Oregon, or any other place in South Central Wisconsin.

If you're relocating to the Madison - Middleton Wisconsin area, we'll tell you about our neighborhoods, schools and best places to live. We've lived here all our lives and raise our families here - we'll share with you all we know and make looking for your new home in Dane county a pleasure.

If you're looking for the perfect house, home, condo, town home or land for sale in the Madison / Middleton real estate area, we're your team. We also help clients locate commercial property to rent or own.

SEE the difference.


Relocating to Madison - Middleton, Dane County:


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Location:Madison - Wisconsin - United States
Industry:Real Estate
Tags:Home Buying, Madison/middleton Homes, Buyers, Home Selling, southern Wisconsin homes
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