Ep 99 - First Time Home Buyer Terms And Definitions from A-Z – “E”
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 23 May 2022
⏱️ 20 minutes
🧾️ Download transcript
Summary
Trudging through the alphabet to help crush the confusion in the whole first-time buyer home buying process, David Sidoni tackles the mysterious real estate terms and definitions beginning with the letter "E" to help bring some much needed clarity to the process.
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Transcript
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| 0:00.0 | Okay, this is our 99th episode. So in honor of Wayne Gretzky, I'm going to do the E episode of |
| 0:06.7 | real estate terms and definitions. Now, hang on, there's logic behind this. Wayne Gretzky, |
| 0:12.8 | because it's 99, but it's also because his name is one of the most misspelled famous last |
| 0:17.2 | names ever. Gretzky, G-R-E-T-Z-K-Y. So because there's letters and misspellings, |
| 0:25.2 | and not to mention the fact that the letter E is the only letter that happens twice in his full |
| 0:30.9 | name. So that's it, guys. Episode 99 for the great one, E! Let's go. |
| 0:53.4 | What's going down? How to buy a homies? |
| 0:54.7 | How you live in? |
| 0:56.0 | You ready to keep fighting a good fight? |
| 0:57.9 | You're ready to get in some real estate vocabulary? |
| 1:01.1 | Ooh, what's more exciting than that? |
| 1:03.7 | I know, this has been on my can't wait list for like hours. |
| 1:08.7 | So what the hell? |
| 1:09.7 | Let's get into it. |
| 1:10.8 | Your first e real estate term. It's the |
| 1:14.4 | EMD. Yes. It's the earnest money deposit. It's not an abbreviation for a hip hop artist, |
| 1:22.5 | even though it kind of sounds like to me every time I say it, the EMD. This is sometimes referred to as the good |
| 1:29.5 | faith deposit. The EMD is a real important part of the real estate transaction. It's the |
| 1:34.4 | initial funds that a buyer is asked to bring into the deal and put down once the seller |
| 1:40.3 | accepts your offer, like real quickly. And it can vary from 1% to 5% depending on |
| 1:47.0 | where you live. And you have to have that money before you get the rest of your money in, |
| 1:53.1 | which usually isn't due to the end of the transaction. So that's why we got to be prepared for |
... |
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