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The Real Estate Marketplace Glossary: How to Talk the Talk
www.ftc.gov(such as the fee a real estate agent earns on the sale of a house). Commitment Letter: A binding of-fer from your lender that includes the amount of the mortgage, the interest rate, and repayment terms. Common Areas: Those portions of a building, land, or improvements and amenities owned by a planned unit development (PUD) or condominium