Razib Mozumdar

In real estate, a home is considered “under contract” when the seller has accepted a buyer’s offer in writing. This means that both parties have agreed to the terms of the sale, including the price, closing date, and any contingencies. However, the sale is not yet final, as there are still certain steps that need … Read more

Cap rate, or capitalization rate, is a key metric used in commercial real estate to assess the potential return on investment of a property. It is calculated by dividing the net operating income (NOI) of a property by its purchase price or market value. NOI is the income generated by a property after all operating … Read more

Contingent in real estate means that a property is under contract, but the sale is dependent on certain conditions being met. These conditions, known as contingencies, are typically included in the purchase agreement and can be related to a variety of factors, such as the buyer’s ability to obtain financing, the results of a home … Read more

Community Conditions, Covenants and Restrictions (CC&R) are the rules, regulations and bylaws that govern a residential property in a planned community or homeowner’s association. They are documented legally through covenants, conditions, and restrictions (or CC&Rs) and are enforced by a Homeowners Association (HOA) or Residential Community Association (RCA). The key purpose of CCRs is to … Read more

REO stands for “real estate owned” and refers to properties that have been foreclosed on and taken back by the lender, usually a bank. REOs are properties that failed to sell at foreclosure auctions and for which the lender took ownership. Banks and lending institutions end up with these properties on their books and must … Read more

Internal Rate of Return (IRR) is a financial metric used to evaluate the profitability of an investment. It is the annualized rate of return that an investment is expected to generate over its lifetime. IRR is often used to compare different investment opportunities, as it takes into account the time value of money. In real … Read more

Real estate agents play a vital role in the home buying and selling process. They help buyers find their dream homes and sellers get the best possible price for their properties. While a college degree is not required to become a real estate agent, many firms appreciate individuals who have one. An associate or bachelor’s … Read more

A short sale in real estate is when a homeowner sells their property for less than the amount they owe on their mortgage. This is usually done to avoid foreclosure, which is when the lender takes possession of the property and sells it to recoup their losses. Short sales can occur for a variety of … Read more

Pending is the status of a real estate property that has a signed purchase agreement between the buyer and seller. This means that the seller has accepted an offer from the buyer, but the sale has not yet been finalized. There are still a few steps that need to be taken before the sale can … Read more