Ability To Pay | Real Estate Glossary

Definition of "Ability to pay"

Jane Howard

Berkshire Hathaway HomeServices Southeast Coastal Properties

Real estate buyer's financial ability to make interest and principal payments on a mortgage.

Condition in which the occupancy or the purposes for which the premises are being used as described ...

Vehicle for the deferring of unneeded current income for a later date, such as retirement, providing ...

Documentation of ownership. An example is a deed to land. ...

A real estate contract whose terms have been completely satisfied. ...

Coverage in the event of property damage or destruction resulting from wrongful installation of equi ...

Circumstances that encourage the organization of pension plans by employers. For example, employer c ...

A lock in guarantees a certain interest rate for a certain period of time. ...

Earnest money is a deposit you make when you make an offer on a house. ...

A counteroffer is an offer made by one party that makes changes to the original or latest offer of t ...

A survey is an examination of a property\'s boundaries to determine the quantity of land, location o ...

Homeowners insurance is an insurance policy that combines personal liability insurance and hazard in ...

An appraisal is an estimate of the value of a certain property by a qualified, independent individua ...

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