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real estate jargon

9. What’s in a Name? From “Settlement Statement” to “HUD-1” to “ALTA” Back to “Settlement Statement”

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . . the settlement statement (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal...
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What “Cooperate” Means to a Realtor

“Cooperative and Rude?” (Not Mutually Exclusive) In general, I’ve found that real estate has a lot less jargon and technical terms of art than law. A notable exception? The word (term?), “cooperate.” To the average person, it means working with someone to accomplish a common task or goal — usually in a positive, agreeable manner....
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