HomeBlogHome SellingReal Estate Terms for Sellers in Florissant, MO Share on Like what you see? Share with a friend. Real Estate Terms for Sellers in Florissant, MO Chris Kirshenboim | November 26, 2020 Last updated August 10, 2026 Selling a house comes with vocabulary nobody teaches you, and the ones that matter are the ones attached to money. These are the real estate terms for sellers that actually change the number on your closing statement. Appraised value is one professional opinion of what the house is worth, ordered by the buyer's lender, and if it comes in low the loan shrinks and the deal renegotiates. Assessed value is the county's figure for tax purposes and has almost nothing to do with market price, which surprises people every time. Carrying costs are what the house eats each month while it waits: mortgage interest, taxes, insurance and utilities. Contingencies are the buyer's escape hatches for financing, inspection and appraisal, and each one is a month you might spend before starting over. Net proceeds is the only number worth watching, because it is the sale price minus commission, closing costs, repairs and payoffs. The key terms when selling in Florissant are the same ones used anywhere in St. Louis County, so nothing here is local trivia. If you would rather skip the vocabulary entirely, our team buys Florissant houses as-is with no commission and no contingencies. Read how we buy houses, compare it against a listing, and take your time deciding. Appraised Price In Florissant, MO An appraised value is an evaluation of a property's value by a professional appraiser. This can be done during the mortgage origination process or by the buyer or seller privately to help determine the value of the property. An appraisal can also be used for tax purposes or after a divorce. Assessed Value In Missouri The assessed value of a property helps determine how much a homeowner will need to pay in property taxes. The property appraiser will take into account location information, inspection information for the home, and recent home sales in the area. Carrying Costs In Florissant The carrying costs are the costs you facing each month to own the home. This includes things like your tax payments, insurance premiums, utility bills, and maintenance costs. Clear Title In Florissant, Missouri A clear title means that there aren't any other ownership claims to the property, nor are there any liens against the house. MO Comparative Market Analysis A comparative market analysis, or CMA, provides information to help determine the value of the property. It takes into account recent sales to help you figure out what your house is currently worth. Contingencies In Florissant A contingency is a stipulation in the contract that needs to be met before the contract is legal and binding. Covenant In Florissant, MO A covenant formal agreement in which one party gives the other certain assurances. An example would be covenants of warranty in a warranty deed. Delinquency In Missouri Delinquency occurs when a homeowner defaults on their loan. This is when a lender will actively begin the collections process, even initiating foreclosure. Disclosures In Florissant, Missouri A disclosure is a document that the seller provides the buyer, letting them know about any problems, defects, or known issues with the property. Failing to disclose a problem with your home can be considered fraud. Encumbrance In MO An encumbrance is a claim against the property that restricts its transfer or use. A property lien is considered an encumbrance. Foreclosure In Florissant A foreclosure occurs when a homeowner fails to make their mortgage payment, typically for 90 days. The owner waives all rights to the property and the home becomes the possession of the bank. Inclusions In Missouri Inclusions are personal property that is included in the home sale. This can be things like appliances, furniture, or outdoor items. MO Market Value Market value is a valuation of the property in which the parties are free of pressure to complete the transaction and all details of the house are known. It can be formulated by finding the average between the highest price a buyer would pay and the lowest price a seller would accept. Mechanic's Lien In Florissant, MO A mechanic's lien is a lien against the property which will secure the payment of contractors, laborers, and those who provide materials. Negative Amortization In Missouri While amortization refers to paying off your loan, negative amortization happens when the payments you are making aren't enough to cover the interest and the amount you owe becomes greater as opposed to less. Quitclaim MO Deed A quitclaim deed transfers the interest in real property from one person to another. Sale-Leaseback In Florissant A sale-leaseback occurs when a buyer purchases a property and then leases it back to the occupant. Short Sale In Florissant, MO A short sale occurs when an owner sells their property for less than what is owed, allowing the lender to recoup some of the cost of the loan as an alternative to foreclosure. Title In Florissant, Missouri The title refers to who has legal ownership and who can legally use the property. Just like a car, it is how you claim ownership of the property. MO Title Defect A title defect is when there is an adverse claim, somewhere in the chain of ownership. It can have an impact on who has legal rights to the property. Florissant Waiver Voluntarily giving up a right, claim, or privilege. It removes liability for the other party in the agreement. Sell My House In Florissant, MO When trying to sell your house in St. Louis fast, you will likely hear a lot of real estate jargon thrown your way. It's important to know what is being said and how the terms used will impact you. Do your homework before selling your house fast in Florissant, MO so you don't miss something you should have been aware of! If you have questions about these, or other real estate terms when selling your property in Florissant, MO, don't be afraid to reach out to one of the expert Missouri home buyers such as Chris Buys Homes in St. Louis! We Are Happy To Answer All Of Your Questions, Providing You With The Info You Need! Contact Us Today To Learn More! (314) 334-1481 FAQs Frequently Asked Questions What is the difference between appraised and assessed value? + Appraised value estimates what a buyer would pay today and is ordered by a lender. Assessed value is the county figure used to calculate property tax and typically sits well below market. What does selling as-is actually mean in Missouri? + It means you are not making repairs and not offering credits for condition. It does not remove your duty to disclose known material defects on the seller disclosure form. Which closing costs does a Florissant seller normally pay? + Commonly the commission, title and escrow fees, property taxes prorated to the closing date, and payoff of any liens recorded against the property.
