ABCs of Real Estate (U – Z)

    Welcome to the final blog in our series covering the ABCs of Real Estate! These blogs break down some of the more common terms in Real Estate to make them (and the entire home buying or selling process) easier to understand. We wrap it all up this week with letters U through Z (with a slight cheat on the letter X):

    U: Upfront costs: Upfront costs are fees not included in closing costs, and are paid out of pocket once the offer on the home has been accepted. They can include the earnest money, inspection fee, and appraisal fee.

    V: Veteran’s Administration (VA) loan: A housing loan backed by the government and available only to eligible veterans, their spouses, and other beneficiaries. They require no down payment or mortgage insurance, which can mean a significantly lower monthly payment for borrowers.

    W: Warranty: A binding guarantee by one party to another saying that certain conditions are true or will happen.

    X: EXamination of title: Interpretation and research done to explore the legitimacy of a title. This is completed before the property is sold to ensure that there are no competing claims on that property.

    Y: Yield spread premium: Commission paid to the mortgage broker by the lender for giving the borrower a higher interest rate or above market mortgage rate on a loan in exchange for lower upfront costs.

    Z: Zoning: Laws regulating land use in a particular area. Governments (usually a local town, township, or municipality) sets the zoning regulations for their area. Zoning areas may include types such as single and multi-unit residential, commercial, industrial, or agricultural.


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    Our agents write often to give you the latest insights on owning a home or property in the Eugene / Springfield area.


    If I recommended R&R Properties a thousand times, it wouldn’t be enough. My husband and I are new parents and first time home buyers. We had absolutely no idea what we were doing, but we were excited and ready to dive headfirst into the home buying process. I don’t know what we would’ve done without Bill. He helped us every step of the way: giving advice, making himself available on our lunch hours or his days off, sending us emails weekly, and basically holding our hands throughout the entire p…
    Monique Serra