Real estate can feel full of unfamiliar jargon. At Corken + Company, we simplify the process by defining important terms and explaining why they matter—so clients feel informed, empowered, and confident from consultation to close.
Escrow
What it is: A neutral third party holds funds and documents to ensure both buyer and seller meet conditions before property ownership transfers.
Why it matters: Escrow creates a secure framework. It prevents either party from completing the deal until all agreed terms, inspections, financing, and paperwork are addressed.
Contingency
What it is: A clause that lets buyers or sellers back out or renegotiate without penalty if specific conditions are not met—common examples include inspection, appraisal, or financing contingencies.
Why it matters: This provides essential protection, giving clients a buffer if surprises arise before closing.
Appraisal
What it is: A third-party valuation of the property’s current worth, usually required by lenders.
Why it matters: The appraisal protects buyers from overpaying and lenders from risk. If the appraisal is low, we can renegotiate or walk away.
Earnest Money
What it is: A deposit made by the buyer to demonstrate good faith during purchase negotiations.
Why it matters: This signals serious intent. Corken + Company helps manage the amount and timeline, ensuring it aligns with market moves and contract structure.
Title Search and Title Insurance
What it is: A title search identifies ownership history and any liens or encumbrances. Title insurance protects against future title defects.
Why it matters: Ensuring clear title is critical. We coordinate with top title companies to safeguard ownership and prevent future surprises.
Roof-to-Foundation Inspection
What it is: A comprehensive inspection covering structural, mechanical, and major systems—commonly known as a four-point or full inspection.
Why it matters: Helps uncover possible issues before closing. Corken + Company advises on inspectors, negotiates fixes, and provides transparency for informed decisions.
Closing Costs
What it is: Fees covering lender charges, title services, taxes, insurance, and prorated items due at closing.
Why it matters: These costs add up. We provide detailed estimates early in the process to avoid surprises and coordinate credits or seller-assisted options when possible.
Comparative Market Analysis (CMA)
What it is: A detailed comparison of recently sold and active listings, adjusted for property size, condition, and location.
Why it matters: This is the foundation of pricing strategy. We create CMAs to support listing or offer decisions—and adjust in real time based on market feedback.
How Corken + Company Puts These Terms to Work
Streamlined explanations: We walk clients through each term during onboarding—no unfamiliar language, just clarity.
Applied context: Instead of theory, we show how terms affect your offer structure, timelines, and negotiation outcomes.
Hands-on coordination: From selecting an escrow company to managing the inspection contingency, we handle every step with precision.
Whether you’re a first-time buyer or an experienced investor, understanding these terms strengthens your position. We’ll make sure you’re not just signing forms—you’re making informed decisions at every stage.
If you’d like a deeper dive into any of these terms, or if you want a live walkthrough during your transaction, we’re here to help.
Reach out at www.corken.co or call 303-858-8003
Corken + Company | Real Estate Solutions Without Limits
