As quickly becomes obvious to anyone shopping for real estate in Fulton County, realtors have their own jargon. Some Fulton County agents become so used to the language that they forget that many homebuyers may not know what the terms mean. Here are a few of the more common terms you will hear Fulton County realtors use.

MLS: The Multiple Listing Service (MLS) is a massive database of homes for sale in an area. Fulton County agents can access this information and sort it by desired features to give a short list of homes a client might be interested in buying. The public has access to the database through certain websites, however their access is often more limited than that of real estate professionals.

ESCROW: Fulton County realtors use escrow agents as disinterested third parties to handle financial transactions. The agent handles the funds and documents involved in the sale, ensuring that each party gets what is due when the transaction is complete.

CC&Rs: Homeowners’ associations (HOAs) are becoming common as housing developments try to maintain the values of every homeowner’s property in the community. If you buy a home in an area with an HOA, you have to agree to their Conditions, Covenants, and Restrictions (CC&Rs). CC&Rs vary from association to association but typically set rules for painting the house, keeping the yard, and other activities that might affect property values. Your Fulton County realtor will provide a copy of the CC&Rs to you.

EASEMENT: An easement gives persons other than the owner access to parts of the property. Utilities and roadways are the most common easements in Fulton County. Realtors can provide information on local easements.

PERSONAL PROPERTY AND FIXTURES: “Personal property” refers to items such as furniture that are not part of the sale. “Fixtures” are items which have become attached in such a way that they are now part of the house. Typical fixtures are chandeliers, built-in shelving, and landscaping items such as trees. If in doubt about an item, ask your Fulton County realtor to get clarification on whether it is included in the sale.

APPRAISAL, INSPECTION, AND ASSESSMENT: An appraisal is a written estimate of a property’s value, primarily based on recent sales of similar properties nearby, and done for so the lender to be sure they are not lending more money than the property is worth. An inspection is an evaluation of the house’s structural condition, done for the protection of the buyer, and is usually ordered by your Fulton County realtor. The assessment is the value of the property determined by the government for tax purposes.

At Realty1st, we know Fulton County. Realtors at our agency are here to provide the service you deserve when shopping for a home. We are experts not just in real estate, but also in details of all areas of Fulton County so that you can find the home of your dreams in the perfect neighborhood. We want you to understand the entire real estate process, so don’t hesitate to ask for an explanation of terms you don’t understand. Our Fulton County agents are here to help!