Welcome to Week 28 of Vermillion vocab! This week, let’s talk about permits.
Thinking about buying or selling a home? Here’s a word you definitely want in your real estate vocabulary: PERMIT.
A permit is official approval from your city or town to complete certain construction, renovation, electrical, plumbing, or other work on a property.
Why does it matter? 👀
Because that “beautiful finished basement” or “new addition” may not tell the whole story. If work was done without the proper permits—or permits were opened but never closed—it can create headaches when you go to sell, refinance, or even insure the home.
💡 My advice: Before you buy or sell, make sure you know what work has been done to the property and whether the appropriate permits were pulled and closed out.
It’s one of those details that can be easy to overlook… until it becomes a BIG problem.
Welcome to Week 28 of Vermillion vocab! This week, let’s talk about permits.
Thinking about buying or selling a home? Here’s a word you definitely want in your real estate vocabulary: PERMIT.
A permit is official approval from your city or town to complete certain construction, renovation, electrical, plumbing, or other work on a property.
Why does it matter? 👀
Because that “beautiful finished basement” or “new addition” may not tell the whole story. If work was done without the proper permits—or permits were opened but never closed—it can create headaches when you go to sell, refinance, or even insure the home.
💡 My advice: Before you buy or sell, make sure you know what work has been done to the property and whether the appropriate permits were pulled and closed out.
It’s one of those details that can be easy to overlook… until it becomes a BIG problem.
DTI stands for Debt-to-Income Ratio, and it’s one of the biggest numbers lenders look at when deciding how much home you may qualify for.
Think of it as a snapshot of how much of your monthly income already goes toward paying debt.
✨ A lower DTI can strengthen your buying power, but don’t worry if yours isn’t perfect—there are often strategies to improve it before you start house hunting.
Knowledge is power, and understanding terms like DTI can help you feel more confident throughout the home-buying process.
Have a real estate term you’ve always wondered about? Drop it in the comments and it might be featured in a future Vermillion Vocab! #vermillionvocabseries #nicolevermillion #nicolevermillionrealtor #lamacchiarealty #dti
DTI stands for Debt-to-Income Ratio, and it’s one of the biggest numbers lenders look at when deciding how much home you may qualify for.
Think of it as a snapshot of how much of your monthly income already goes toward paying debt.
✨ A lower DTI can strengthen your buying power, but don’t worry if yours isn’t perfect—there are often strategies to improve it before you start house hunting.
Knowledge is power, and understanding terms like DTI can help you feel more confident throughout the home-buying process.
Have a real estate term you’ve always wondered about? Drop it in the comments and it might be featured in a future Vermillion Vocab! #vermillionvocabseries #nicolevermillion #nicolevermillionrealtor #lamacchiarealty #dti
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Welcome to Week 26 of Vermillion Vocab! Days on Market, or DOM, is simply how long a home has been listed for sale. But don’t let that number fool you. A higher DOM doesn’t always mean there’s something wrong with the home—it could have been overpriced, poorly marketed, or needed a strategy change. Every home has a story, so instead of judging the number, ask what caused it. Context matters! #vermillionvocabseries #nicolevermillionrealtor #lamacchiarealty #nicolevermillion
Welcome to Week 26 of Vermillion Vocab! Days on Market, or DOM, is simply how long a home has been listed for sale. But don’t let that number fool you. A higher DOM doesn’t always mean there’s something wrong with the home—it could have been overpriced, poorly marketed, or needed a strategy change. Every home has a story, so instead of judging the number, ask what caused it. Context matters! #vermillionvocabseries #nicolevermillionrealtor #lamacchiarealty #nicolevermillion
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Welcome to Week 25 of Vermillion Vocab. 🏡
Did you know some mortgages can be transferred from the seller to the buyer? In today’s Vermillion Vocab, I’m breaking down assumable loans, how they work, and why they could be a game-changer in today’s interest rate environment.
Have questions about whether an assumable loan could work for you? Send me a message! 👇 #nicolevermillionrealtor #nicolevermillion #lamacchiarealty #southshorerealtor #vermillionvocabseries
Did you know some mortgages can be transferred from the seller to the buyer? In today’s Vermillion Vocab, I’m breaking down assumable loans, how they work, and why they could be a game-changer in today’s interest rate environment.
Have questions about whether an assumable loan could work for you? Send me a message! 👇 #nicolevermillionrealtor #nicolevermillion #lamacchiarealty #southshorerealtor #vermillionvocabseries
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Welcome to Week 24 of Vermillion Vocab. This week, let’s breakdown loan program names and their nuances. This is a quick overview and if you want more info or a connection to a fabulous lender, let me know! #nicolevermillionrealtor #nicolevermillion #lamacchiarealty #vermillionvocabseries
Welcome to Week 24 of Vermillion Vocab. This week, let’s breakdown loan program names and their nuances. This is a quick overview and if you want more info or a connection to a fabulous lender, let me know! #nicolevermillionrealtor #nicolevermillion #lamacchiarealty #vermillionvocabseries
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Welcome to Week 23 of Vermillion Vocab and this week is all about radon and why it’s an important part of understanding a home’s health and safety. You can’t see it, smell it, or taste it—but radon could be present in your home. Radon is a naturally occurring gas and is the second leading cause of lung cancer in the United States, which is why testing is often recommended during the home inspection process. #vermillionvocabseries #nicolevermillionrealtor #nicolevermillion #lamacchiarealty
Welcome to Week 23 of Vermillion Vocab and this week is all about radon and why it’s an important part of understanding a home’s health and safety. You can’t see it, smell it, or taste it—but radon could be present in your home. Radon is a naturally occurring gas and is the second leading cause of lung cancer in the United States, which is why testing is often recommended during the home inspection process. #vermillionvocabseries #nicolevermillionrealtor #nicolevermillion #lamacchiarealty
