The Language of Real Estate Contracts

by John Reilly

Real estate brokers, attorneys, lenders, and title officers seem to use a unique language that often confuses Buyers and Sellers who often give up trying to understand these uncommon terms and concepts.  Dont you give up.  Your understanding of these terms will strengthen your negotiating powers -- conversely, you weaken your position by relying on standard form provisions that may favor the other side without you being aware of that fact.

We have assembled a number of key contract terms and concepts that are explained in greater detail in The Language of Real Estate, Sixth Edition, Dearborn Publishing, by John Reilly.  Study these terms and study how they relate to the real estate contract you enter into as either Buyer or Seller.

For a summary of key contract terms