X marks the spot!

Posted by Krystal Thompson on Friday, July 19th, 2019 at 8:31am.

Or does it?

To be honest, there just isn’t a mortgage or real estate term that starts with the letter X, but you are going to see the letter throughout the process around 100 times or more.  The letter X followed by a long line typically signifies that a signature is required.  From getting pre-approved to purchase real estate all the way through to the closing table, you will be requested to sign multiple disclosures and contracts to get the deal done. Simple enough right? For the most part, yes, but please read those contract and disclosures before signing... some restrict your rights while others protect them.  

According to Investopedia there are a few more X words but I’d say they are reaching a bit.  Either way, here are the ones they discovered.  

The actual letter X by itself can mean “A mark that can substitute for a signature in some cases, if a person cannot write. Requires the presence and affirmation of a notary.” 

X-bracing is another one they put in this category, meaning, “Bracing across a panel or divider.”

Lastly, my favorite: “Xylotomous: the capacity of an organism to bore into wood. Termites, for example, have xylotomous capacity.”

I think its safe to say that none of these X words were life changing… but the more you know, the more you know! And if you singed a ton of documents, you probably are now the proud owner of a new home! Congrats!

Questions about real estate? email me krystal@westandmainhomes.com

 

 

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