Description

Think you know what “escrow” means? What about “contingent” or “earnest money”? These everyday real estate terms are often misunderstood—even by experienced buyers and sellers. Let’s clear the confusion once and for all. 

📌 Episode Summary:

In this jargon-busting episode of Off the Record, Joe and Makayla break down the 15 most misunderstood residential real estate terms they encounter daily in the Portland market. From “pre-approval” vs. “pre-qualification” to the dreaded “short sale,” this episode is packed with clarity, insider tips, and real-life scenarios that make these terms click. Whether you're buying your first home, selling your third, or just want to sound smarter at your next open house, this fast-paced, fun, and educational episode is for you.

Bonus: Learn why your appraisal value might not match market value, what underwriters really do, and why the term "escrow" might make Joe and Makayla laugh.

⏱ Episode Highlights:

• [00:02:45] Pre-Approval vs. Pre-Qualification: Learn why sellers (and agents) take one way more seriously than the other.
• [00:04:08] Contingent vs. Bumpable: The hidden meaning behind those MLS status updates—and why you shouldn’t be scared of contingencies.
• [00:07:05] Escrow – It’s Not What You Think: Joe and Makayla debunk the “Selling Sunset” version of escrow and explain what it really means in Oregon.
• [00:09:38] Appraisal vs. Market Value: Why they rarely match, and how appraisals can sometimes sabotage your deal.
• [00:12:01] Earnest Money: What it is, how much to offer, and when it could be at risk.
• [00:15:59] Title Insurance: What it covers, why it matters, and how Lisa Wheeler saves the day.
• [00:25:50] Days on Market: What that number really says about a listing—and why 10 days might feel like a lifetime to sellers.

Hosts Joe Reitzug and Makayla Mast are top-tier Portland real estate professionals and community experts. They bring humor, honesty, and years of experience to every real estate convo—whether it’s breaking down market trends or just recommending the best local food trucks.

Connect with the team at livportland.com
Catch their foodie side hustle on YouTube: LivPortland Grub Guide

📚 Resources Mentioned:

• LivPortland YouTube Channel – Grub Guide
• Buyer & Seller Resource Books: livportland.com
• Escrow Partner: Lisa Wheeler, WFG Title

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