Skip to main content

Glossary

Below are the set of terminologies used in SmartCrow:

APN​

: Assessor Parcel Number. This is a unique ID code for every property in USA. Smartcrow uses the APN to locate properties.

Buyer​

: The person buying the property.

Buyer agent​

: The real estate agent representing the buyer.

COE​

: Close of Escrow. This means the transaction is final. The buyer now owns the property. The seller has received funds.

County Records or Public Records​

: A county is a government jurisdiction. There are 58 counties in California and 3,143 counties in USA. The county has a department called Recording. The county officially records documents showing who is the owner of property.

Escrow​

: During the transaction, this period is called escrow. The buyer and seller are “in escrow”, which means they are in the transaction process of property purchase.

Grant Deed​

: This is the name of the document that shows ownership of a property. When a buyer purchases a property, a Grant Deed will be recorded at the County Records which shows they have ownership.

Listing agent​

: The real estate agent representing the seller. Called the listing agent because the property is ‘listed’ for sale.

Property​

: This is the home that is for sale. Also known as real estate and real property.

Seller​

: The owner of the property.

Title and Escrow Company (it will be called Escrow Company for short)​

: This is the independent/neutral third party that handles paperwork and funds for the buyer and seller during the transaction.