Disclosure Statement:

  • A document, required by law, which reveals specific information. For example, federal law requires that lenders give buyers a disclosure statement detailing the actual cost of borrowing money from the lender.
   

Escrow:

  • Money or documents which are held on behalf of the parties to a transaction by a disinterested third party (called an escrow agent), until the specific conditions have all been complied with.
   

Private Mortgage Insurance:

  • Insurance offered by private companies to insure a lender against default on a loan by a borrower.
   

Purchase Agreement:

  • A contract in which a seller promises to convey title to real property to a buyer in exchange for the purchase price.
   

Title insurance:

  • Insurance that indemnifies against losses resulting from undiscovered title defects and encumbrances.
   

Definitions taken from:
Ohio Real Estate Finance, Hondros College; Greensward Publications, Columbus, Ohio

Condino Realty NY LLC

Judy A. Condino, GRI
Licensed Real Estate Broker
cell: 315.408.5968

Condino Realty NY llc
1035 B Coffeen Street
Watertown, NY 13601
315.405.8127 [ph]
315.405.8877 [fx]

Our buyer and seller clients are our #1 priority

Our goal is to provide our customers with exceptional service to meet their real estate needs

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