EARNEST MONEY: A sum paid by a potential buyer to demonstrate that the buyer is serious about buying. If a contract is executed, the earnest money is credited toward the purchase price at closing. Make sure you know the terms of your contract.
EASEMENTS: Rights of way granted to persons or companies authorizing access to or over the owner's land. For example, utility companies may have easement rights to install pipes or wire on or over your land.
ENCROACHMENT: An unlawful intrusion onto another´s adjacent property by improvements to real property, e.g. a swimming pool built across a property line.
ENCUMBRANCE: Anything which affects or limits the fee simple title to or value of property, e.g., mortgages or easements.
EQUITY: The value in excess of all indebtedness against the property.
ESCROW: A system or document of transfer in which a deed, bond or fund is delivered to a third party to hold until all conditions in a contract are fulfilled.
EXCLUSIVE AGENCY LISTING: A listing agreement employing a broker as the sole agent for the seller of real property under the terms of which the broker is entitled to a commission if the property is sold through any other broker, but not if a sale is negotiated by the owner without the services of an agent.
EXCLUSIVE RIGHT TO SELL LISTING: A listing agreement employing a broker to act as agent for the seller of real property under the terms of which the broker is entitled to a commission if the property is sold during the duration of the listing through another broker or by the owner without the services of an agent.