The final step in a real estate transaction when ownership is transferred.

A document summarizing the financial details of a real estate transaction.

A condition in a contract that must be met for the deal to proceed.

A response to an initial offer, proposing different terms.

A measure of a property’s ability to cover its debt payments with income.

A court decision in favor of one party when the other fails to respond or appear.

The agreed state in which a property will be handed over to the buyer or tenant.

Real estate under financial stress, often sold below market value.

A loan provision requiring full repayment if the property is sold.

Total income from a property after deducting vacancies and credit losses.