Colorado Springs Vintage Homes Blog

Real Estate Dictionary — “A” is for Absorption Rate

Knowledge is Power 

What does Absorption Rate mean to me as a buyer? An Absorption Rate is an estimate of the rate at which a particular classification of space (house, condo, new housing, etc.) will be sold within the next year. A high absorption rate, means that it is a Buyer’s Market.

I’m moving from Colorado to Oklahoma; my Oklahoma Realtor said that I need to get an Abstract on the property I’m buying. An Abstract is a document that is a full summary of all proceedings affecting a parcel of real estate together with a statement of the present status. In Colorado Springs, title searches are used in place of abstracts.

What does it mean when my agent says the contract has been accepted? Acceptance is an expression of intent of a person receiving an offer to be bound by the terms of an offer. In Colorado, acceptance must be in writing

What is an addendum to a contract? An addendum is Read the rest of this entry »

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