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Bargain Properties >Less Than Market Value Real estate ads are sprinkled with terminology that often puzzles consumers who don't have applied knowledge of housing industry lingo. Internet homebuyers find that information about properties is often presented in abbreviated form or unfamiliar language. Shedding a little light on some basic real estate terms may help you locate a home that is available at a very affordable price. 'MLS' refers to the Multiple Listing Service, which is the national database of listed homes for sale. Some real estate web sites allow homebuyers to preview local listings that appear on the MLS. If you see a real estate ad for a "FSBO", it means that the property is for sale by the owner, who is declining the services of a Realtor. A home listed "As-is" is being sold in its existing condition. A "bargain sale" home is priced at less than its market value, and a "fixer-upper" is priced low because it needs refurbishing. See All Tips In The "Bargain Properties" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What is an encumbrance against a property, which may be voluntary or involuntary? A  There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. See More Real Estate Trivia >