Assessed Value

Conversion of a rental apartment house to individual condominium ownership of a portion of the minimum ownership of a portion of the building. Often, the tenant is given an opportunity to ...

An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...

percentage of land that may be used productively to the total square footage of the land. For example, if total square footage is 40,000 but only 30,000 square feet may be built upon ...

Date of the valuation of property, usually contained in a report. ...

When an Appraisal is done, its ultimate goal is to define a Market Value for that property. So, in short, market value is the value of a real estate property in a free competitive ...

Received immediately when an investment is made or contract signed. For example, a real estate limited partnership may require that an investor pay a 3% sale fee at the time of initial ...

Method of valuing a property through examination and comparison of recent sales of comparable properties. ...

Average number of business days an office space is being used. ...

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan. ...

Now that you’ve learned how much does a real estate agent make, you’re wondering who pays the real estate agent? Get ready for a non-answer. Or a super-answer. It’s a ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cover the principal or interest. Instead of declining, the balance of the loan actually ...

A seller takeback is a type of financing in which the seller arranges for the financing on a property. ...

Wondering what is the difference between a condominium and an apartment? Well, differently from the difference between an apartment and a flat, this one is not so much related to word ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...

A condominium is a form of home ownership in which the owner owns the airspace within the walls but doesn't own the actual walls, ceilings, or floors of the home. ...

When you are prequalified, the lender gives you an estimate but does not formally commit to giving you a loan. ...