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Popular Real Estate Glossary Terms
Mock closing; all information is available prior to an actual closing in order to insure all documents are properly executed by the appropriate parties. A preclosing is normally used only ...
Also called a rollover mortgage. Provides a borrower with a fixed-rate mortgage that expires at a preestablished time, such as in four years. This permits the lender and borrower to ...
Any geographic taxing division where the legally chosen representatives are charged with the responsibility of assessing taxable property and collecting tax revenue. ...
Revising the provisions, conditions, or terms of an oral or written agreement or contract. An example is when a contractor wants to increase the price of a job on a home when he realizes ...
Cost incurred in adjusting a claim. Claim-adjustment expenses include such items as attorneys' fees and investigation expenses (e.g., witness interviews). The claim settlement dollar amount ...