a to z
76 of 76 terms
A
- Acceptanceoffers & contracts
- The moment a signed offer or final counter offer is accepted and that acceptance is delivered back to the other side. Most RPA deadlines are counted from this date. Contract clock →
- Agency disclosure (AD)agents & agreements
- A required form that explains who the agent represents (buyer, seller, or both). Under California law the buyer gets it before signing a buyer representation agreement (Civil Code 2079.14).
- APN (Assessor’s Parcel Number)escrow & closing
- The ID number the county assessor assigns to each parcel for property tax purposes. It appears on tax bills, title reports and the purchase agreement.
- Appraisalloans
- An independent estimate of market value ordered by the lender. The loan amount is usually based on the lower of the appraised value and the price.
- Appraisal contingencyoffers & contracts
- Lets the buyer cancel or renegotiate if the property appraises below the price. In C.A.R. guides it defaults to 17 days after acceptance.
- Appraisal gapoffers & contracts
- The difference between the contract price and a lower appraised value. Buyers who waive or limit the appraisal contingency agree to cover some or all of that gap in cash.
- AVID (Agent Visual Inspection Disclosure)disclosures
- The C.A.R. form where an agent reports what they saw during the visual inspection of accessible areas that California law requires on 1-4 unit sales.
B
- Base year valuetaxes
- Under Prop 13, the assessed value set when you buy (or build). It then grows by at most 2% a year until the next sale. Property tax calculator →
- Bridge loanloans
- Short-term financing that taps the equity in a current home so the owner can buy the next one before the first sells. It is repaid when the old home closes.
- Buyer representation agreement (BRBC)agents & agreements
- The written contract between a buyer and their brokerage setting out services, compensation and term. California requires one no later than the offer and caps it at 3 months, and NAR practice calls for one before touring. Buyer playbook →
C
- CC&Rsdisclosures
- Covenants, Conditions and Restrictions: recorded rules that limit how property in a subdivision or HOA can be used and maintained. They are part of the governing documents a seller must provide.
- Close of escrow (COE)escrow & closing
- The day the sale completes: the deed records, the seller is paid and the buyer becomes the owner. The RPA sets the COE date.
- Closing Disclosureloans
- The lender’s final statement of the loan terms and closing costs, delivered before closing so the buyer can compare it with the earlier Loan Estimate.
- Commission (broker compensation)agents & agreements
- The fee paid to brokerages for their services. California requires agreements to state that commissions are not fixed by law and may be negotiable.
- Common interest development (CID)market & homes
- A condo, townhome or planned development where owners share common areas run by a homeowners association.
- Compass 3-Phased Marketing Strategycompass
- Compass’s optional way to bring a listing to market: Private Exclusive, then Coming Soon, then the MLS. Sellers sign a Compass disclosure before pre-marketing starts. Compass + Boyenga toolkit →
- Compass Coming Sooncompass
- Phase 2 of the Compass 3-Phased Marketing Strategy: a listing that’s public on Compass.com before it reaches the MLS, without days on market or price-drop history. Compass + Boyenga toolkit →
- Compass Conciergecompass
- A Compass program that pays up front for prep work such as staging, painting and repairs before a home is listed, repaid at closing. Loans come from Notable Finance, LLC, and fees or interest may apply depending on the state. How Concierge works →
- Compass Private Exclusivecompass
- Phase 1 of the Compass 3-Phased Marketing Strategy: a listing shared only with agents in Compass’s network and their buyers, with no public days on market or price history. Private Exclusives →
- Conforming loan limitloans
- The largest loan Fannie Mae and Freddie Mac can buy. For 2026 it is $832,750 for one unit in most areas, up to $1,249,125 in high-cost areas. Payment calculator →
- Contingencyoffers & contracts
- A condition in the purchase agreement, such as inspection, appraisal or loan, that lets the buyer cancel and usually get the deposit back if it isn’t satisfied in time. Contract clock →
- Contingency removal (CR)offers & contracts
- The buyer’s signed form giving up a contingency. In the RPA, contingencies end only when removed in writing, not automatically.
- Counter offeroffers & contracts
- A response that changes the terms of an offer. It rejects the original, and the other side can accept, reject or counter again. C.A.R. has separate counter-offer forms, revised in December 2025.
D
- Days on market (DOM)market & homes
- How long a listing has been actively for sale, usually measured in the MLS from list date to accepted offer. See it by city →
- Defensible spacedisclosures
- The cleared and maintained zone around a home in a wildfire hazard area. In High/Very High fire zones, sellers must document compliance or agree that the buyer will within a year.
- Discount pointsloans
- Upfront fees paid to the lender to buy a lower interest rate. One point equals 1% of the loan amount, and points only pay off if you keep the loan long enough.
- Documentary transfer taxtaxes
- A tax charged when the deed records, based on the price. Santa Clara and San Mateo counties charge $1.10 per $1,000; San Jose, Palo Alto, Mountain View, the City of San Mateo and Hillsborough add city taxes, and San Francisco has its own brackets. Transfer tax by city →
- Dual agencyagents & agreements
- When the same brokerage represents both buyer and seller, even through two different agents. The relationship is disclosed and consented to in writing (C.A.R. forms AD and DA).
E
- Earnest money / initial depositoffers & contracts
- The good-faith money the buyer puts into escrow after acceptance (3 business days by RPA default). It is credited toward the price at closing.
- Earthquake bookletdisclosures
- The Homeowner’s Guide to Earthquake Safety, a state booklet on seismic hazards and retrofits given to buyers of 1-4 unit homes.
- Environmental Hazards bookletdisclosures
- A state guide on common household environmental hazards (asbestos, radon, lead and formaldehyde) and how to reduce them. Sellers or agents can give it to buyers.
- Escrowescrow & closing
- A neutral third party holds the money and documents and follows both sides’ written instructions until every condition is met and the sale closes. In Northern California this is usually a title company.
F
- Final verification of condition (walk-through)escrow & closing
- The buyer’s last visit before closing to confirm the home’s condition, agreed repairs and included items. C.A.R. form VP documents it.
- Fire hardening disclosuredisclosures
- For pre-2010 homes in High/Very High fire zones, the seller’s notice listing wildfire-vulnerable features and ways to harden the home. Since July 2025 it includes the State Fire Marshal’s low-cost retrofit list.
- FLD (lead-based paint disclosure)disclosures
- The C.A.R. form used for the federal lead disclosure on homes built before 1978. The buyer also gets the EPA lead pamphlet and a chance to test for lead (10 days unless changed).
- Form 593 (real estate withholding)taxes
- The California FTB form the seller completes in escrow to calculate the 3 1/3% state withholding or claim an exemption such as a principal residence.
- Fundingescrow & closing
- When the buyer’s lender wires the loan money to escrow. Escrow can then record the deed and pay the seller and others.
H
- High-cost arealoans
- A county where 115% of the median home value exceeds the baseline conforming limit, so the local loan limit is higher (up to 150% of baseline, $1,249,125 in 2026).
- HOA documentsdisclosures
- The association package a condo or HOA seller must provide: governing documents, budget-related disclosures, assessments owed, violation notices, rental limits, inspection report and, on request, a year of board minutes.
- Home sale exclusion (Section 121)taxes
- The federal tax break that lets owners exclude up to $250,000 ($500,000 joint) of gain on a main home they owned and lived in 2 of the last 5 years. Seller net sheet →
- Home warrantyoffers & contracts
- An optional one-year service contract covering repair of major systems and appliances, sometimes paid by the seller as a negotiated item.
I
- Investigation (inspection) contingencyoffers & contracts
- The buyer’s period to inspect the home and review reports and disclosures, and to cancel or ask for repairs. It defaults to 17 days after acceptance.
J
- Jumbo loanloans
- A mortgage larger than the local conforming limit (above $1,249,125 for one unit in the highest-cost counties in 2026). It usually has stricter credit and down-payment rules. Payment calculator →
L
- Lender’s title insuranceescrow & closing
- A title policy protecting the mortgage lender’s lien. The buyer almost always pays for it.
- Liquidated damagesoffers & contracts
- A clause agreeing in advance that the seller keeps the buyer’s deposit if the buyer defaults. For owner-occupied 1-4 units, amounts up to 3% of the price are presumed valid (Civil Code 1675).
- List-to-sale price ratiomarket & homes
- The final sale price divided by the last list price, shown as a percent. Over 100% means homes are selling above asking.
- Listing agreement (RLA)agents & agreements
- The seller’s contract with a listing brokerage covering price, term, marketing and compensation. C.A.R.’s version is the Residential Listing Agreement, revised December 2025. Seller playbook →
- Loan contingencyoffers & contracts
- Lets the buyer cancel and recover the deposit if they can’t get the loan described in the contract by the deadline. C.A.R. guides list 17 days after acceptance; check your contract.
- Loan Estimateloans
- The lender’s standardized early summary of rate, payment and closing costs after you apply, used to compare lenders.
M
- Median sale pricemarket & homes
- The middle sale price for a period: half the sales were higher and half lower. It moves with the mix of homes that sold, so it isn’t a home value. Market Pulse →
- Megan’s Law disclosuredisclosures
- The required contract notice that registered sex offender information is available at meganslaw.ca.gov (Civil Code 2079.10a).
- Mello-Roosdisclosures
- A special tax in a Community Facilities District (Mello-Roos Act of 1982) that funds local infrastructure or services. It is billed with property taxes, and sellers must try to get the district’s notice for buyers.
N
- NHD (Natural Hazard Disclosure)disclosures
- The statement (Civil Code 1103) showing whether a property is in mapped flood, dam inundation, fire, earthquake fault or seismic hazard zones. It is usually prepared from a third-party report. Disclosure builder →
- Notice to Buyer to Perform (NBP)offers & contracts
- A seller’s written demand that the buyer remove a contingency or meet a contract duty within 2 days. If the buyer doesn’t, the seller may cancel.
- Notice to Seller to Perform (NSP)offers & contracts
- The buyer’s matching written demand that the seller meet a contract obligation, such as delivering disclosures, by a deadline.
O
- Owner’s title insuranceescrow & closing
- A one-time-premium policy protecting the buyer against covered title defects such as prior liens or forgeries. Who pays it is set by local custom and negotiation.
P
- PMI (private mortgage insurance)loans
- Insurance protecting the lender on conventional loans with less than 20% down. You can request removal at 80% loan-to-original-value, and it ends automatically at 78% if you’re current.
- Pre-approvalloans
- A lender’s conditional commitment, based on reviewed income, assets and credit, to lend up to a stated amount. Sellers expect one with an offer. What you can afford →
- Pre-listing inspectiondisclosures
- A home (and often pest) inspection the seller orders before listing so buyers see known issues up front and fewer surprises arise in escrow.
- Preliminary title report (prelim)escrow & closing
- The title company’s early report of who owns the property and what liens, easements and restrictions affect it. The buyer reviews it during the contingency period.
- Price per square footmarket & homes
- Price divided by the listed living area. Useful for comparing similar homes nearby; lot, condition, layout and location can matter more. Market Pulse →
- Proposition 13taxes
- California’s 1978 property tax limit: about 1% of assessed value plus local bonds, with assessed value rising at most 2% a year until a sale or new construction. Property tax calculator →
- Proposition 19taxes
- Lets homeowners 55+, severely disabled owners and disaster victims carry their Prop 13 taxable value to a replacement home anywhere in California, up to three times, if they buy within 2 years. Our Prop 19 guide →
- Prorationsescrow & closing
- Splitting ongoing costs such as property taxes and HOA dues between seller and buyer as of the closing date on the settlement statement.
R
- Rate lockloans
- The lender’s promise to hold your interest rate for a set period (often 30-60 days) while you close, provided your application doesn’t change.
- Recordingescrow & closing
- Filing the signed deed (and the new deed of trust) with the county recorder, which puts the transfer on public record. It marks the official close of the sale.
- Rent-back (seller in possession)offers & contracts
- An agreement letting the seller stay in the home for a set time after closing, usually with rent or a deposit, documented on a separate addendum.
- Request for Repair (RR)offers & contracts
- The buyer’s written request, usually after inspections, for the seller to fix items or give a credit. The seller may agree, refuse or counter.
S
- Special Flood Hazard Areadisclosures
- A FEMA-mapped high-risk flood zone. Sellers must disclose it on the NHD, and lenders typically require flood insurance there.
- SPQ (Seller Property Questionnaire)disclosures
- A C.A.R. form that asks the seller detailed questions beyond the TDS, such as past repairs, insurance claims and neighborhood issues. It was revised in December 2025.
- Statewide Buyer and Seller Advisory (SBSA)disclosures
- A long C.A.R. advisory that flags common issues buyers should investigate and sellers should disclose.
- Supplemental tax billtaxes
- An extra property tax bill after purchase that covers the difference between the old and new assessed value for the rest of the fiscal year. Buyers closing January-May get two. Estimate yours →
T
- TDS (Transfer Disclosure Statement)disclosures
- The state-mandated form (Civil Code 1102) on which sellers of 1-4 units disclose known defects and conditions. If it arrives after the offer, the buyer has 3 days (5 if mailed) to cancel. Disclosure builder →
W
- WHSD statementdisclosures
- The C.A.R. form where the seller certifies that water heater bracing and smoke (and CO) detectors meet state law.
- Withholding (California real estate)taxes
- State income tax prepayment escrow sends to the FTB: 3 1/3% of the price unless the seller qualifies for an exemption such as a principal residence or a price of $100,000 or less. Seller playbook →
- Wood-destroying pest (termite) inspectiondisclosures
- An inspection by a licensed structural pest control company for termites, dry rot and similar damage. The contract says who orders it and who pays for any work.
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more to learn
Keep going
- Buyer playbookSeven steps to a purchase, with a contract clock.
- Seller playbookSeven steps to a sale, with a disclosure builder.
- Real estate calculatorsPayment, transfer tax, Prop 13, seller net and rent vs buy.
- Market PulseLive listings and 12 months of sale prices for every city we cover.
Plain-English definitions for general information, not legal or tax advice. Forms and rules change; C.A.R. revised its main forms in December 2025. Checked October 15, 2026.
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