Trying to decode a Boise listing or Idaho purchase contract can feel like alphabet soup. If you are buying or selling in Ada County, you will see terms and acronyms that shape price, timing, and risk. This glossary breaks down 25 need-to-know terms with Boise-specific tips, where you will see them, and a simple next step to keep you moving. Let’s dive in.
How to use this Boise glossary
You will see some terms in Intermountain MLS listings and others in Idaho purchase contracts. MLS language summarizes facts and marketing details. Contract language creates binding dates, money flows, and remedies.
- For listing fields and status rules, review guidance from the Intermountain MLS.
- For common Idaho contract clauses and disclosures, see standard forms from Idaho REALTORS.
Keep this page handy as you tour homes, read HOA packages, and negotiate offers.
25 Boise real estate terms explained
1) MLS Status: Active, Contingent, Pending, Closed
Status tells you where a property sits in the sale process. In Intermountain MLS, “Contingent” often means the seller accepted an offer but inspections or financing are still open. “Pending” usually means contingencies are removed and closing is scheduled.
Local example: In hot Boise neighborhoods, a home may move from Active to Contingent in days. Backup offers can still be possible. Local next step: Ask your agent to check MLS broker remarks for backup-offer instructions.
2) Days on Market (DOM and Cumulative DOM)
DOM counts how long a listing has been public. Cumulative DOM tracks relists and status changes per MLS rules. Short DOM can signal strong demand, while longer DOM may point to pricing or condition questions.
Local example: Newer Eagle and Meridian homes in popular price bands can show very low DOM. Local next step: Compare DOM to similar Ada County comps before assuming a bidding war or a deal.
3) List Price vs. Sold Price
List price is the asking number. Sold price is the final contract price recorded at closing. Gaps between the two can reflect multiple offers, concessions, or appraisal outcomes.
Local example: In-entry price ranges across Boise, strong demand can push sold prices above list. Local next step: Base your offer on recent Ada County comparable sales, not just the list price.
4) Price per Square Foot (Price/SF)
Price per SF divides price by finished living area. It is a rough comparison tool, not a full valuation method. Lot size, upgrades, builder quality, and age all matter.
Local example: A North End bungalow and a new Meridian build can have very different Price/SF for good reasons. Local next step: Ask for an apples-to-apples comp set that matches age, size, and location.
5) CC&Rs (Covenants, Conditions and Restrictions)
CC&Rs are recorded rules that govern what owners can do. They may set standards for exteriors, fencing, RV parking, and more. They “run with the land,” so they remain in effect after you buy.
Local example: Many newer Boise and Meridian subdivisions have CC&Rs that guide architectural appearance. Local next step: Pull the recorded CC&Rs through the Ada County Recorder or your title company.
6) HOA, Dues, and Resale Packet
An HOA manages common areas and enforces CC&Rs. Dues and special assessments vary by community. Resale packets often include budgets, meeting minutes, CC&Rs, and policies.
Local example: Communities with pools or parks in Ada County may have higher dues. Local next step: Review the HOA’s reserve fund, insurance, rental policies, and any pending assessments before you waive contingencies.
7) EMD (Earnest Money Deposit)
Your earnest money shows good faith and is deposited shortly after your offer is accepted. In Idaho, it is typically held in a brokerage trust account or by the title company as allowed by state rules.
Local example: Timely EMD delivery is a standard deadline in Boise contracts. Local next step: Confirm the due date and holding party in your contract and align with Idaho trust account rules from the Idaho Real Estate Commission.
8) Contingency (Inspection, Financing, Appraisal)
Contingencies are conditions that must be met for the deal to proceed. Inspection contingencies let you investigate and request repairs. Appraisal and financing contingencies protect you if the lender or appraiser will not support the price.
Local example: Seven to fifteen days is a common inspection window here. Local next step: Use the inspection period well by scheduling general and specialty inspections early.
9) “As-Is” Sale
“As-Is” means the seller does not agree in advance to make repairs. You still have the right to inspect and may negotiate credits or repairs. Disclosures are still required.
Local example: Some Boise sellers list “As-Is” but will address health and safety items. Local next step: Keep your inspection contingency and prioritize safety and system issues in any request.
10) Seller Concessions
A concession is a credit the seller gives you at closing, often to help with closing costs or a rate buydown. Your loan program may cap how much you can receive.
Local example: Concessions ebb and flow with market conditions across Ada County. Local next step: Ask your lender for program-specific limits before you write the offer.
11) Title Insurance and Title Commitment
Title insurance protects against certain title defects. The title commitment is the preliminary report that lists what will be covered and what exceptions exist. Most buyers purchase a lender’s policy, and an owner’s policy is recommended.
Local example: Easements and CC&Rs appear as title exceptions in Ada County commitments. Local next step: Read your title commitment carefully and ask the title officer to explain exceptions.
12) Deed Type: Warranty vs. Quitclaim
A general warranty deed conveys title with the strongest seller warranties. A quitclaim deed conveys whatever interest the seller has without warranty. Most residential sales use warranty deeds.
Local example: Family transfers sometimes use quitclaim in Ada County. Local next step: Confirm deed type in your closing package and ask your title company about protections.
13) Plat Map, Subdivision, Lot and Block
A recorded plat shows lot lines, streets, and easements. Listings often reference the subdivision name and lot-block details. Plat maps are part of the public record.
Local example: New subdivisions around Meridian and Eagle list plat book and page numbers. Local next step: Retrieve the recorded plat through the Ada County Recorder or your title provider.
14) Easement
An easement lets another party use part of the land for a specific purpose, like utilities or irrigation. Building may be limited in easement areas. Easements show up in title commitments and plats.
Local example: Irrigation ditch and public utility easements are common in older Boise areas and rural parcels. Local next step: Verify all easements in your title documents before designing improvements.
15) Flood Zone and FEMA Floodplain
FEMA maps identify areas with higher flood risk. Lenders require flood insurance for homes in Special Flood Hazard Areas. Flood status can affect insurance costs and building rules.
Local example: Properties along the Boise River corridor can touch mapped flood zones. Local next step: Check the property on the FEMA Flood Map Service Center and confirm your lender’s determination.
16) Well and Septic / On-site Systems
Outside Boise city services, some properties use private wells and septic systems. You should test well flow and water quality and inspect the septic tank and drain field.
Local example: Outlying Ada County parcels often rely on well and septic, while in-city homes are typically on municipal service. Local next step: Confirm service type with Boise City Utilities or your seller disclosures and schedule appropriate tests.
17) Irrigation and Water Rights
Water rights allow diversion or use of surface water and may be recorded separately from the land. Some properties have ditch company shares or decree-based rights.
Local example: Acreage and some suburban lots in Ada County carry irrigation rights that require ongoing administration. Local next step: Verify water rights through the Idaho Department of Water Resources and your title commitment.
18) Seller’s Property Disclosure
Sellers complete a standardized disclosure of known material facts like leaks, system issues, or pest history. Disclosures do not replace inspections.
Local example: Idaho REALTOR disclosure forms are commonly used in Boise transactions. Local next step: Review the disclosure early and align your inspection plan with any flagged items.
19) Lead-based Paint and Federal Lead Disclosure
Homes built before 1978 require a federal lead disclosure addendum. You may also obtain a lead inspection or risk assessment.
Local example: Many central Boise neighborhoods include pre-1978 homes. Local next step: Read the federal guidance on lead hazards at the EPA’s lead page and discuss testing options with your inspector.
20) Survey / Boundary Survey
A survey confirms property lines and shows improvements and easements. Residential and ALTA-level surveys differ in scope. Lenders sometimes require surveys, especially for new construction or complex sites.
Local example: Lot splits and newer builds in Ada County may need recent surveys. Local next step: Order a survey when boundaries, encroachments, or access are unclear.
21) Recording and the Ada County Recorder
After closing, your deed and other documents are recorded in public records. Recording confirms the transfer and protects your interest.
Local example: Title companies submit deeds for recording shortly after funds disburse. Local next step: Ask your title company for a copy of the recorded deed or search the Ada County Recorder.
22) Financing Types: Conventional, FHA, VA, USDA
Loan programs differ in down payment, appraisal standards, and repair requirements. These differences can impact timelines and negotiation strategies.
Local example: USDA loans may work for eligible rural areas in Ada County. Local next step: Confirm your program eligibility and appraisal requirements with your lender before you write.
23) Short Sale, REO, Foreclosure, Bank-Owned
Distressed sales require lender involvement or reflect bank ownership after foreclosure. These properties can be priced to market and may be sold As-Is with longer timelines.
Local example: Availability fluctuates with the local economy. Local next step: Prepare for extra approvals and build flexibility into your offer timeline.
24) New Construction, Builder Warranty, CO
New homes include a Certificate of Occupancy and builder warranties that outline what is covered and for how long. Workmanship warranties are commonly one year, with longer structural coverage possible.
Local example: Boise City or Ada County building departments issue COs on completion. Local next step: Request the builder warranty, CO, and permit history during your due diligence.
25) Wildland-Urban Interface (WUI) and Fire Risk
Homes near foothills or natural vegetation face higher wildfire exposure. Insurance carriers may require mitigation or price policies accordingly.
Local example: Boise foothill neighborhoods can be in WUI-influenced zones. Local next step: Review defensible-space guidance from NFPA Firewise USA and check insurance availability early.
Quick Boise due diligence checklist
- Confirm water and sewer type. If not on city service, schedule well flow and water quality tests plus a septic inspection. Use Boise City Utilities for service questions.
- Pull recorded documents. Check the Ada County Recorder for plats, easements, and CC&Rs.
- Review title commitment. Ask the title officer to explain exceptions and easements in plain language.
- Verify irrigation and water rights. Search records through the Idaho Department of Water Resources if the listing mentions irrigation.
- Check flood risk. Map the address in the FEMA Flood Map Service Center and discuss insurance with your lender.
- Plan inspections. Add specialty inspections as needed, including radon. Read the EPA’s radon guidance for background.
- Understand contract timelines. Confirm EMD due dates, inspection periods, and financing milestones using standard forms from Idaho REALTORS.
When you have questions, you deserve clear, local answers. If you want help applying this glossary to your plans, reach out to Katie Shevlin Real Estate. We are ready to walk you through listings, contracts, and every step to closing.
FAQs
What does “Contingent” mean on Boise MLS listings?
- It usually means the seller accepted an offer and is working through contingencies like inspections or financing. Backup offers may still be considered.
How fast is the inspection period in Ada County contracts?
- Timelines vary by contract, but 7 to 15 days is common. Book inspectors early to meet deadlines.
Do I need flood insurance in Boise?
- If the home is in a Special Flood Hazard Area, lenders require it. Outside those zones, it is optional but worth discussing with your insurer.
Are water rights always included with Ada County property?
- No. Some parcels have irrigation rights or ditch shares and others do not. Verify through the title commitment and the Idaho Department of Water Resources.
Who holds earnest money in Idaho?
- Earnest money is typically held by a brokerage trust account or the title company, consistent with Idaho rules and your contract.
