A quiet sale still runs on the same vocabulary as any other, plus a few terms of its own. Here they are in alphabetical order, in plain English, with San Diego County numbers where they help.
Plain English
Off-Market Real Estate Terms Explained
Sixteen terms for quiet sales and private buyers in San Diego County, in alphabetical order and plain English, with current numbers.
The terms at a glance
Appraisal · Base-year value (Proposition 13) · Closing costs · Comparative market analysis (CMA) · Contingency · Earnest money deposit · Escrow · HOA and CC&Rs · Months of supply · Off-market (quiet) sale · Pre-approval · Rent-back · Share of listings with a price cut · Supplemental tax bill · Transfer Disclosure Statement · Typical home value
Terms A to E
- Appraisal
- A licensed appraiser visits the home and compares it with recent nearby sales to reach an opinion of value for the lender. A low number does not end a deal, but it forces a conversation about price, cash or terms.
- Base-year value (Proposition 13)
- Proposition 13’s core idea is the base-year value: the price at the last purchase or completion of construction. Yearly increases are capped at 2%, so the taxable value can lag far behind the market until the property sells again.
Local example: For a typical home in the San Diego metro area (San Diego–Chula Vista–Carlsbad) at $930,785, the 1% base tax would be about $9,308 a year, or roughly $10,704 with an assumed 0.15% for voter-approved charges. Real bills vary by address and by any special taxes. - Closing costs
- Closing costs are what it takes to finish the deal beyond the down payment: lender and appraisal fees, title and escrow charges, recording fees, and prepaid interest, taxes and insurance. Ask your lender for a Loan Estimate early.
- Comparative market analysis (CMA)
- A CMA is a set of comparable sales assembled to answer one question: what price is realistic? It relies on an agent’s judgment about which homes are truly comparable.
Rudy prepares a personal market report on request, with the sold and current homes closest to yours. - Contingency
- Each contingency is a safety net with a clock on it. If the inspection, appraisal or loan approval goes badly within the agreed period, the buyer may cancel and keep the deposit; once the buyer removes the contingency, that protection is gone.
- Earnest money deposit
- A good-faith deposit the buyer delivers to escrow shortly after the seller accepts an offer, commonly a percentage of the price. It counts toward the purchase, and it can be at risk if a buyer backs out for a reason the contract does not allow.
Terms E to R
- Escrow
- Escrow is the stretch between an accepted offer and the day the sale records. A neutral escrow officer collects the deposit, the loan funds and the paperwork, then pays everyone and records the deed when both sides have done what the contract requires.
- HOA and CC&Rs
- A homeowners association collects dues to maintain shared property and enforces the community’s covenants, conditions and restrictions (CC&Rs). Buyers receive the rules, budget and reserve information during escrow.
- Months of supply
- A measure of inventory against demand: homes for sale relative to the number selling each month. A low number means fewer choices and often faster sales; a high number means more choices and more room to negotiate.
Local example: In the week ending Sep 26, 2026, the San Diego metro area (San Diego–Chula Vista–Carlsbad) had 3.5 months of supply. - Off-market (quiet) sale
- An off-market listing is a property that is for sale but not publicly advertised on the MLS. It is offered privately, through an agent’s network, and the sale still involves disclosures, inspections and escrow.
- Pre-approval
- A pre-approval letter turns a hopeful budget into a documented one. It is good for a limited time, does not guarantee a loan, and is worth having before you make an offer.
- Rent-back
- If the seller needs time after the sale closes, the buyer can agree to a rent-back. The seller pays the buyer daily rent and moves out by an agreed date.
Terms S to T
- Share of listings with a price cut
- Zillow tracks how many listings have had at least one price reduction. When that share climbs, asking prices are being tested; when it falls, fewer sellers need to adjust.
Local example: In the week ending Sep 26, 2026, about 10% of listings in the San Diego metro area (San Diego–Chula Vista–Carlsbad) had a price cut. - Supplemental tax bill
- After a sale, the assessor updates the value and the county sends one or two supplemental bills for the months since the sale. Buyers should budget for them; they arrive separately from the regular annual bill.
- Transfer Disclosure Statement
- A form the seller completes to disclose known facts about the property’s condition, including repairs, defects and work done without permits. The buyer reads it alongside the inspection report.
- Typical home value
- The typical home value is an index, not an appraisal: a smoothed estimate for the middle price tier that helps you follow changes over months and years.
Local example: For the San Diego metro area (San Diego–Chula Vista–Carlsbad) as a whole, Zillow’s typical home value was $930,785 in Aug 2026.
A note on what this is
These definitions describe general California practice in plain English. Contracts, forms and rules change and differ by case, so confirm details with your lender, the escrow officer, the county and a licensed advisor. Rudy Flores is a licensed real estate agent (CalDRE #02257808) with Coldwell Banker West, not an attorney or tax professional. Market numbers come from Zillow Research and Freddie Mac and are dated on the page.
Keep exploring
- Closing cost estimator — Estimate the cash to close.
- The off-market guide — How quiet sales work.
- Off-market sales and property tax — What to expect.
- Zoning and entitlement due diligence — What to check on the property.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
Sources
- Zillow Research: data
- Freddie Mac: Primary Mortgage Market Survey
- FHFA: conforming loan limits
- California State Board of Equalization: Proposition 19
General information for orientation, not legal, tax, financial or appraisal advice. Details change; confirm anything that matters with the official source, your lender and your agent.