FSBO

Definition

Short for For Sale By Owner, which is real estate speak for "I watched one YouTube video and now I don't need a professional." The savings on commission are usually offset by the cost of mistakes only a professional would have caught.

Example Usage

"I went FSBO because I didn't want to pay 6% commission. I ended up selling for 15% less because I priced it using vibes and a Zillow estimate from 2019." - A DIY seller

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A contract clause allowing buyers to back out or renegotiate if the home inspection reveals problems, serving as an escape hatch for when dream homes turn into money pits. It's the buyer's insurance policy against buying someone else's disaster.

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Under Contract

The relationship status of a house that's been claimed but not yet closed, like being engaged but for property. Everyone holds their breath until closing, and there's always a chance someone gets cold feet.

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tenant improvement allowance

Money the landlord provides for the tenant to customize leased space, typically in commercial properties. It's the 'make yourself at home' budget that determines whether you get new carpet or get to keep the previous tenant's questionable design choices.

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exclusive listing

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letter of intent

A preliminary written agreement outlining proposed transaction terms before drafting a formal contract, common in commercial real estate. The 'let's agree to maybe agree later' document that lawyers insist isn't legally binding but kinda is.

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