As-IsSold in its current condition. The buyer accepts the property as it stands at the sale.
Cash OfferAn offer that does not depend on a mortgage approval, so financing contingency is usually absent.
Closing CostsFees paid to complete a sale, such as title work, recording, transfer taxes and settlement charges.
ProbateThe court process that confirms a deceased person's estate and who has authority to act for it.
Personal RepresentativeThe executor or administrator appointed by the court to handle an estate.
LienA legal claim against a property for an unpaid debt; it usually must be resolved before title can transfer.
Delinquent TaxesProperty taxes not paid by their due date; interest, penalties and court costs may be added.
Tax SaleA public sale of property to collect unpaid taxes, subject to local rules and deadlines.
Pre-ForeclosureThe stage after missed payments or default activity begins but before a completed foreclosure sale.
TitleThe legal right of ownership. A title search checks for liens, heirs and anything else affecting it.
FSBOFor Sale By Owner — selling without a listing agent, which leaves commissions and tasks with the seller.
Net ProceedsWhat you receive after loan payoff, liens, commissions and closing costs come out of the sale price.
