Covenants, conditions, and restrictions, or CC&Rs, are simply rules and property limitations of a planned community neighborhood.
The median list price per square foot of all active listings currently on the market for sale in San Diego.
If a buyer or seller wants to change the existing contract, they might add an addendum outlining the specific part of the contract they’d like to adjust and the parameters of that change. The rest of the contract stays the same, regardless of the addendum that is attached.
Assumption is when a seller transfers all terms and conditions of a mortgage to a buyer. The buyer takes on the seller’s remaining debt instead of taking out a new mortgage of their own.
An assignment is when the seller of a property signs over rights and obligations to that property to the buyer before the official closing.
The share of active listings in San Diego that were pulled off the market during a given time period.
The total number of homes just listed for sale on the market in San Diego within the last 7 days during a given time period. Excludes listings that were cancelled or withdrawn, and then re-listed again within 60 days of previously going off market.
If a homeowner defaults on their loan, it means they have not paid the sum they agreed to. Typically, a mortgage default means the homeowner hasn’t made a home loan payment in 90 days or more.
Proof of funds, or POF, is a document that demonstrates how much money a person has available. When purchasing a home, you may need a POF to show the seller that you can cover the cost of the home. The POF gives you more credibility as a buyer.
A deed, or property deed, is a legal document that transfers property ownership from the seller to the buyer. A deed contains a description of the property and property lines. Both parties must sign the document to make it official.