The Chopper Russo Team Video Series

The A to Z of Real Estate

Real estate has a language of its own. We break down the terms, steps & questions that come up when you're buying or selling a home in Northern New Jersey — short, clear, and jargon-free.

Real Estate, Explained From A to Z

Buying or selling a home means learning a whole new vocabulary — appraisals, contingencies, escrow, closing costs, and dozens of terms that can make the process feel more complicated than it needs to be. This guide is our plain-English answer to the questions we hear most often from buyers and sellers across Bergen, Passaic & the surrounding areas.

Each entry pairs a short video from the Chopper Russo Team with a clear written breakdown, so you can get the answer however you prefer to learn it. We're adding new terms regularly — from A all the way to Z.

A

Appraisal

What a home appraisal is, who orders it, and how it affects your deal.

M

MLS

The Multiple Listing Service and how our site pulls from several at once.

C

Contingent Offer

What "contingent" means and the conditions an offer can hinge on.

E

Escrow

The neutral third party that holds funds from offer to closing.

D

Down Payment

How much you really need — and why 20% isn't required.

F

FHA Loans

Government-backed loans with lower down payments and flexible credit.

I

Inspection

What inspectors check and how the report becomes a negotiating tool.

L

Loan-to-Value (LTV)

How the LTV ratio is calculated and why it drives your rate and PMI.

J

Jumbo Mortgage

Loans that exceed conforming limits for higher-priced homes.

H

HOA

What a Homeowners Association does, what dues cover, and what to check.

B

Backup Offer

How to stay next in line on a home that's already under contract.

K

Key Rate

The benchmark rate that shapes mortgage costs and timing.

G

Good Faith Estimate

What a GFE was — and the Loan Estimate that replaced it.

N

Net Proceeds

O

Open House

P

Pre-Approval Letter

Q

Quitclaim Deed

R

REO Property

S

Seller's Disclosure

T

Title

U

Under Contract

V

VA Loan

W

Final Walkthrough

X

Finding the Right Home

Y

Yield Spread Premium

Z

Zero Lot Line

Have a Question We Haven't Covered?

Reach out anytime — we're happy to walk you through it, no obligation.

📞 (201) 240-5200 ✉️ Email the Team
};