Understand the Terms. Protect Your Peace.

At Property Peace, we believe homeowners should feel empowered — not overwhelmed. Here’s a simple glossary of common real estate terms, written in plain English and linked to helpful articles when available.

📖 Glossary Terms

1. Pre-Foreclosure
The period after a homeowner has missed several mortgage payments but before the home is officially foreclosed.
🔗 Read more about pre-foreclosure in Ohio

2. Foreclosure
The legal process where a lender takes back a home due to missed payments.
🔗 How to avoid foreclosure in Ohio

3. Short Sale
Selling your home for less than what’s owed on the mortgage — typically with lender approval.
🔗 Learn more about short sales

4. Probate
The legal process for handling a deceased person’s estate, including property transfers.
🔗 What to do with an inherited house in Ohio

5. Inherited Property
A home received through a will or estate, which often needs to be sold quickly or handled through probate.
🔗 Selling an inherited house in Ohio

6. As-Is Sale
Selling a property in its current condition without making repairs.
🔗 We buy houses as-is in Ohio

7. Title
A legal document showing ownership of a property.

8. Equity
The portion of your home’s value that you own — your home’s market value minus what you owe.

9. Closing
The final step in selling your home, where paperwork is signed and funds are transferred.

10. Closing Costs
Fees and expenses due at closing — usually covered by the seller unless negotiated.

11. Cash Buyer
A person or company that buys homes without needing mortgage financing.
🔗 How we make all-cash offers at Property Peace

12. Motivated Seller
Someone who needs to sell quickly due to life events, finances, or stress — and may be open to flexible offers.

13. Subject-To
A creative financing method where the buyer takes over the seller’s existing mortgage payments.

14. Lease Option
An agreement allowing a buyer to lease a home with the option to buy it later.

15. Divorce Sale
When spouses sell a home as part of dividing assets during a divorce.
🔗 Selling your home during divorce in Ohio

16. Real Estate Investor
A person or company that buys property for profit — usually as a rental, resale, or rehab.

17. Offer
A formal proposal to buy a home — may be cash, terms, or creative financing.

18. Inspection
An evaluation of the home’s condition, often required by buyers or lenders.

19. Appraisal
An official estimate of a property’s market value, usually required for traditional sales.

20. Off-Market Property
A house not listed on the MLS — often sold privately to cash buyers like Property Peace.

✨ Want to Sell Without the Stress?

Whether you’re facing foreclosure, inheritance, or just need a fresh start — Property Peace is here to help.
👉 Request your cash offer today