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What To Know When Buying A Home Beginning of Paper As each American ventures into their journey through the “game of life”; one often begins with finding a home. Some prefer renting; yet, many prefer to buy a home. Buying a home can be exciting and perplexed. Getting the proper information can greatly help ease the anxiety an .... Middle of Paper .... fees in addition to the stated interest rate. Appraisal-an expert judge of the value or worth of the property. Assessed value- the value placed on a property by a municipality for the purpose of levy taxes. Balloon Payment- a large [principal payment due at the end all at once on some loans. Contract- binding legal agreement between two or more parties hat delineates the conditions for the exchange of property. Deed- a legal document that formally conveys ownership of property from the seller to the buyer. Equity- the value of property .... 972 words | 4 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95