Real Estate Glossary

CRAIG BLACKMON IS A REAL ESTATE ATTORNEY, BROKER, AND INNOVATOR IN SEATTLE.

FSBO (For Sale By Owner)

For Sale by Owner, or FSBO For Sale by Owner, also known by the acronym FSBO, refers to an owner who is trying to sell a home without using at least one of the two real estate agents normally involved (the listing agent, and the buyer’s agent). Traditionally, a...

Title

Title Title is really fancy legalese for “ownership.” So if you “hold title,” you’re the owner. However, the legal rights of others may limit your rights of ownership. For example, if you finance the purchase of a car, the lender has the...

Warranty Deed

Warranty Deed A deed is the legal document that transfers title of real property.  A Warranty Deed contains promises from the seller to the buyer about the rights of ownership and possession of the property.   Contrast with Quit Claim Deed. Here in WA, the law by...

Title Insurance

Title Insurance A type of insurance that insures either the buyer’s right to own and possess the property, or the lender’s security interest in the property. Typically the seller will pay for the buyer’s policy, and the buyer will pay for the lender’s policy. Why does...

Title Contingency

Title Contingency A specific type of contingency. A title contingency allows a buyer to inspect and approve the preliminary title report before the contract becomes binding. This gives the buyer a chance to identify encumbrances on title that may affect the...

Pin It on Pinterest