Real Estate – Glossary

NH Real Estate Glossary

Real Estate Terminology

NH real estate agenciesSelling a home can be a very stressful venture. A good real estate agent can ease the burden of selling your home. Finding the right real estate agent and knowing the terminology is vital. Ask us about NH Realty or share comments. To feature your business, contact us.

NH Real Estate Terminology



New Hampshire Real EstateAssessed Value: Assessed value is the valuation placed on property by a public tax assessor for purpose of taxation.

Adjustable-Rate Mortgage (ARM): An adjustable rate mortgage is a mortgage in which the interest changes periodically, according to corresponding fluctuations in an index. All ARMs are tied to indexes.

Agreement for Sale: Known by various names, such as contract of purchase, purchase agreement, or sales agreement according to location or jurisdiction. A contract in which a seller agrees to sell and a buyer agrees to buy, under specific terms spelled out in writing and signed by both parties.

Broker: Broker has several meanings in different situations. Most Realtors are "agents" who work under a "broker." Some agents are brokers as well, either working for themselves or under another broker. In the mortgage industry, a broker usually refers to a company or individual that does not lend money for the loans themselves, but broker loans to larger lenders or investors. (See the Home Loan Library that discusses the different types of lenders). As a normal definition, a broker is anyone who acts as an agent, bringing two parties together for any type of transaction and earns a fee for doing so.



Closing Costs: Closing costs are separated into what are called "non-recurring closing costs" and "pre-paid items." Non-recurring closing costs are any items which are paid just once as a result of buying the property or obtaining a loan. "Pre-paids" are items which recur over time, such as property taxes and homeowners insurance. A lender makes an attempt to estimate the amount of non-recurring closing costs and prepaid items on the Good Faith Estimate which they must issue to the borrower within three days of receiving a home loan application.

Contingency: A condition that must be met before a contract is legally binding. For example, home purchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector.

Cost of Funds Index (COFI): One of the indexes that is used to determine interest rate changes for certain adjustable-rate mortgages. It represents the weighted-average cost of savings, borrowings, and advances of the financial institutions such as banks and savings & loans, in the 11th District of the Federal Home Loan Bank.

Escrow Amount: Once you close your purchase transaction, you may have an escrow account or impound account with your lender. This means the amount you pay each month includes an amount above what would be required if you were only paying your principal and interest. The extra money is held in your impound account (escrow account) for the payment of items like property taxes and homeowner’s insurance when they come due. The lender pays them with your money instead of you paying them yourself.

Fair Market Value: The highest price that a buyer, willing but not compelled to buy, would pay and the lowest a seller, willing but not compelled to sell, would accept.

Survey: A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments, and other physical features.

Truth-In-Lending: A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.

Two to Four-Family Property: A property that consists of a structure that provides living space (dwelling units) for two to four families, although ownership of the structure is evidenced by a single deed.

Zoning: The right of a community, under its police power, to dictate the use of property within its boundaries.

Badger Peabody Smith Realty
Badger, Peabody & Smith Realty | 1-603-823-6700
New Hampshire, Western Maine & Eastern Vermont Real Estate Services. With eight conveniently located offices, we offer full-service real estate services to the Great North Woods, Mt. Washington Valley, White Mountains, Central, Lakes Region, and the Upper Valley. In addition, we specialize in the Northeast Kingdom of Vermont and Western Maine. We also have a team dedicated to commercial real estate. If you are looking for commercial lease space in Plymouth, a development opportunity in Littleton, a hospitality property for sale in North Conway, or a business opportunity in Berlin, we can assist. Visit our website to view listings.
Badger Peabody Smith Realty


Roper Real Estate Waterville Valley NH
Roper Real Estate, 8 Davos Way, 2nd Floor, Waterville Valley NH 03215 | 603-236-3636
Waterville Valley is an oasis in the White Mountain National Forest. Only 2 hours from Boston, it is the first major resort off of Interstate 93. We know the market in Waterville because we live here in Waterville and we love it. As members of the NH MLS and NH Board of Realtors, we have an extensive mailing list and email database of people active in the real estate market in Waterville Valley. See a virtual tour online at our website.
Visit Roper Real Estate Waterville Valley Website


NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes


NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes




NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes


Adam Dow Real Estate Agent, Kellor Willliams Realty
Adam Dow, ABR - Keller Williams - Dow Realty Group, 136 South Main Street, Wolfeboro, NH 03894 | 603-569-4664
My properties include New Hampshire Lakes Region Real Estate; homes, inns, business and investment property, waterfront, luxury vacation homes, condos, cottages, land, lots and more. Born in Wolfeboro, NH - 10th generation in the Lakes Region. Search all Lakes Region Listings by Town or Lake.
Visit Adam Dow Keller Williams Website


Peabody and Smith, White Mountains  New Hampshire, White Mountains NH, Commercial Realty Real Estate Properties
Peabody & Smith Realty, 383 Main St., Franconia NH 03580 | 603-823-5700; 11 Riverglen Lane, Littleton NH 03561 | 603-444-1294; 9 Remick Lane, Bretton Woods, NH 03575 Ph: 603-278-1140; 85 Main St., Plymouth, NH 03264 | 603-238-6990
Specializing in White Mountains real estate: residential, land and commercial offerings, in the greater Littleton, Franconia, White Mountain area. Our team approach in servicing our clients has given us "A Reputation for Results".
Visit Peabody & Smith Realty Website


Preferred Vacation Rentals, Lakes Region NH, Lake Winnipesaukee Vacation Rentals
Preferred Vacation Rentals Inc., 34 Whittier Hwy. (Route 25), Center Harbor, NH 03226 Toll-Free: 877-525-3764 or 603-253-7811
Preferred Vacation Rentals features the LARGEST selection of pre-inspected waterfront and lake access vacation rental homes in the Lakes Region. Rentals are available by the week, month or season. Free color Vacation Rental Guide available. We are available 7 days a week to serve your vacation needs. Call 1-877-525-3764, or visit our website for more info.
Visit Preferred Vacation Rentals Website

Berkley Veller Real Estate, Berkley Veller and Greenwood, Berkley Veller Country Realtors
Berkley, Veller & Greenwood Country Realtors, 119 Western Ave., Brattleboro, VT 05301 also 118 Route 100, West Dover,  VT 05356 | 802-254-6400
Berkley, Veller & Greenwood Country Realtors has access to the largest selection of real estate listings in southeastern Vermont and southwestern New Hampshire. Offices are located in Brattleboro and Mount Snow, Vermont. The area’s leading independent full service real estate company serving Windham County in Southern Vermont and Cheshire County in Southern New Hampshire.
Visit Berkley Veller Greenwood Country Realtors Website


NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes


NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes


Adam Dow Real Estate Agent, Keller Willliams Realty
Adam Dow, ABR - Keller Williams - Dow Realty Group, 136 South Main Street, Wolfeboro, NH 03894 | 603-569-4664
My properties include New Hampshire Lakes Region Real Estate; homes, inns, business and investment property, waterfront, luxury vacation homes, condos, cottages, land, lots and more. Born in Wolfeboro, NH - 10th generation in the New Hampshire Lakes Region. Search all Lakes Region Listings by Town or Lake.
Visit Adam Dow Group - Keller Williams Real Estate - Wolfeboro, NH


Verani Realty, Berkshire Hathway HomeServices Verani Real Estate, Keene New Hampshire Homes for sale, Monadnock NH real estate listings
Berkshire Hathaway HomeServices Verani Realty, 60 Whittier Highway, Unit 3, Moultonboro, NH 03254 | 603-253-7766
On this web site you can search for homes or land, review subdivisions and new construction, preview virtual tours and access upcoming open houses. Berkshire Hathaway Verani Realty is committed to providing remarkable value in real estate services that exceeds the expectations of our clients and customers. 
Visit Berkshire Hathaway Verani Realty Website


Badger Peabody Smith Realty
Badger, Peabody & Smith Realty | 1-603-823-6700
New Hampshire, Western Maine & Eastern Vermont Real Estate Services. With eight conveniently located offices, we offer full-service real estate services to the Great North Woods, Mt. Washington Valley, White Mountains, Central, Lakes Region, and the Upper Valley. In addition, we specialize in the Northeast Kingdom of Vermont and Western Maine. We also have a team dedicated to commercial real estate. If you are looking for commercial lease space in Plymouth, a development opportunity in Littleton, a hospitality property for sale in North Conway, or a business opportunity in Berlin, we can assist. Visit our website to view listings.
Badger Peabody Smith Realty


NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes


Milestone Team Better Homes and Gardens Real Estate,
Milestone Team - Better Homes and Gardens Real Estate, 224 Main Street, New London, NH 03257 | 603-526-4116
Teamwork means working together to accomplish a goal. The Better Homes and Gardens Real Estate - Milestone Team can help to insure that you will achieve your goals. Let us put our proven Team to work for you! We brainstorm, share problems and successes, look to each other for advise and opinion...help each other all the time. For our clients and customers, this means that there is always someone available to make life easier!
Visit Milestone Team Better Homes & Gardens Real Estate


CG  Shepard Real Estate - Vacation Rentals
CG Shepherd Realty LLC, Grantham: 603-863-3278 Hanover: 603-643-3278 Lebanon: 603-448-3278, 120 Route 10S, (Sawyer Brook Plaza), Grantham, NH 03753 & 199 Heater Rd., Lebanon, NH 03766
CG Shepherd Realty, LLC has knowledgeable local Realtors who will represent your interests enthusiastically! Learn all the local secrets and traditions of the Upper Valley, Dartmouth/Lake Sunapee, Eastman and Vermont regions by contacting us or visiting our website.
CG Shepard Realty Website


Vanessa Stone Real Estate LLC
Vanessa Stone Real Estate, 468 US Route 4 Unit 7, Enfield, NH 03748 & 195 Mechanic St., Lebanon, NH 03766 | 603-632-5757
Vanessa Stone Real Estate is Your Home for Upper Valley NH Real Estate. With 30 plus years of experience in the Real Estate business, Vanessa and her team can help you find the New Hampshire property you are searching for. Whether it be a home, land, a mobile home in a park, rental, an investment property, or waterfront property. Visit our website to receive local real estate listing updates via email.
Visit Vanessa Stone Real Estate


NH Log Cabins
New Hampshire Log Cabin Homes | 1-774-228-2898
NH LOG CABIN HOMES serves all of Massachusetts and New Hampshire with custom built cedar log homes to fit your lifestyle and budget. Our first quality Moosehead Cedar Log Homes are available in several styles, prices, and are delivered pre-cut to save you time and money. The insulation factor of White Cedar is among the highest of any wood species. Call 1-774-228-2898 for Naturally environmentally safe housing for you and your family.
Visit NH Log Cabin Homes


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