Ad Valorem Tax

Opinion of a judge having no direct legal or binding effect on the outcome of a pending judicial decision. An obiter dictum is considered to be an incidental judicial remark about some ...

Make changes to existing property. Example are putting in a new bathroom, kitchen, or basement ...

In a broader sense, Full Disclosure means presenting all information (significant or not, classified or not) related to a certain matter. In Real Estate, the term “Full ...

Governmental body having the responsibility for planning the future development of a jurisdictional area. A planning commission is responsible for developing and managing a zoning ordinance ...

A designation awarded to REALTORS® who complete a prescribed course of a real estate study. ...

A loan in which the entire charge is subtracted up front from the face value of a loan. The proceeds received are the face value of the loan less this deduction, which increases the ...

Legal status conferred by certain states on a homeowner's principal residence. In certain states, homestead status may provide protection against creditor claims or forced land sales ...

Simply put, probate is a legal proceeding whereby the will of a deceased is tested for validity. The definition of probate is not known to most Americans. According to a Gallup survey, ...

If you truly want to purchase that property, the only ethical thing to do is to purchase it through that REALTOR. Otherwise, you could set up potential conflicts between your previous ...

Everyone in your family thinks they know how to take pictures to sell your house, right? They say you shouldn’t spend money hiring a professional photographer since you are already ...

On most transactions, there is usually a listing agent and a selling agent. The selling agent is sometimes referred to as the buyer\'s agent, because he works on the buyer\'s behalf and it ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest rate can increase or decrease over the life of a loan. ...

Yes, you can use two realtors® to sell your house. Actually, more than two. You can use how many you’d like. It’s what is called an Open Listing. In it, the home seller ...

A borrowers other debts, such as auto loans and credit cards, figured into the debt-to-income ratio. ...

The definition of “auction” is derived from the Latin word “auctus” which means “increasing”. A home auction is a sale where bidders place one bid after ...