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Real Estate Glossary
For your convenience, we've compiled a list of words and phrases to help you understand Real Estate better.
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A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.
Looking for terms related to appraisal?
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An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property. Since an
is based primarily on comparable sales, and the most recent sale is the one on the property in question, the
usually comes out at the purchase price.
Certificate of Reasonable Value (CRV)
has been performed on a property being bought with a VA loan, the Veterans Administration issues a CRV.
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