Quick Close

Definition

Closing on a house faster than normal, usually because someone is desperate, flush with cash, or both. It's the speed dating of real estate -- exciting, reckless, and you skip all the important conversations.

Example Usage

"The seller wanted a quick close so I skipped the inspection. I now own a house where the shower drains into the basement. Efficiency." - A fast mover

Related Terms

Beginner

title search

A deep dive into public records to verify legal ownership and uncover liens, judgments, or claims. Property background check revealing whether you're buying real estate or a lawsuit.

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Intermediate

eminent domain

The government's constitutional power to seize private property for public use with compensation. Democracy's way of saying 'we love your land more than you do, here's some money, goodbye.'

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Intermediate

conforming loan

A mortgage that meets Fannie Mae and Freddie Mac's size and underwriting requirements, making it eligible for government backing. Essentially, it's a loan that colors inside the lines and gets rewarded with better interest rates.

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Advanced

boot

Additional cash or property value included in a 1031 exchange to equalize the values being swapped, which unfortunately becomes taxable income. Named perfectly for something that kicks you right in the tax deferral strategy.

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Beginner

estate

In real estate, it refers to the property and land you own; in legal terms, it's everything you leave behind when you die for relatives to argue over. Estate can mean anything from a sprawling mansion with manicured grounds to your accumulation of assets and debts that someone has to sort through. Basically, it's either where you live large or what lawyers divide up after you're gone.

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Advanced

deed in lieu

Deed in Lieu of Foreclosure—when a homeowner voluntarily transfers property ownership to the lender to avoid foreclosure proceedings. It's the real estate equivalent of quitting before you're fired.

🏠 Real Estate

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