Referral fee - a fee paid from one to another firm as an incentive to cooperate. The most real estate transactions now include a referral fee. Seller's agent - An agent who represents the seller and owes fiduciary duties to the seller. Usually referred to as the listing agent. Title - Ownership of real property.
Title is transferred from one party to another through a document called a deed.
Title insurance - Protection for lenders and homeowners against financial loss resulting from legal defects in or other claims against the property's title. Trust - A property interest held by one person for the benefit of another. The VA assists veterans in terms of low or no down payment, mortgage qualification assistance and low interest rates. VA loan - A mortgage loan guaranteed by the US Department of Veterans Affairs against loss to the lender, and made through a private lender. All rights reserved 1999.