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either the local government or the condominium association) by which to levy a tax or fee on the property owner.

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Binder - A preliminary agreement, often accompanied by an earnest money deposit, that shows good faith on behalf of the buyer.

Bridge Loan, also called a swing loan - A short term loan used to transition in between the paying off of an old loan, and the inception of permanent financing.

As Is Condition – Disclaiming any warranties or representations regarding the condition of a property.

Asking/Listing Price – The price a seller is asking in order to sell their property.

A broker has full authority to run a real estate company, whereas a real estate agenmust have their license held under the auspices of a broker.