Balloon Clause

Method of revenue recognition based on delivery instead of sale. ...

Limitation or prohibition such as on what a tenant in an apartment may not do. Local laws may also restrict certain actions such as failing to use the property for gambling purposes. ...

Tax levied on real property. It is based on the land use categorization nature of improvements, fair market value, and the millage rate. Property taxes may be assessed by states, cities, ...

Descriptive of the architectural development of property in a certain area. For example, a housing subdivision may use very similar building architecture throughout the development. All the ...

Latin for pending the suit. A suit which is actually in progress and the outcome is pending. ...

A binding arbitration is a way to solve disputes without going to court. An alternative to the more expensive and lengthy legal procedures, a binding arbitration is basically the process ...

Situation in which a person guilty of breaking a contract is required by the judge to fulfill his duties. Specific performance is required only if the item or subject of the contract is ...

Person or entity that has title or a right to something which is typically being held. Examples are real property, corporation, and personal property. Ownership of property may be held by ...

A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation. ...

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to ...

Are you wondering what is the difference between being prequalified and preapproved for a loan? Do you always get confused because they seem pretty much the same thing, right? But there is ...

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations for the upkeep of the property. ...

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

Wondering how do real estate agents get paid? We’ve got to be honest here: some time ago that would be classified as a dumb question because it was kind of obvious. However, faster ...

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

Are you worried about the constant speeding on your street and neighborhood and you wish to do something to stop it? Traffic calming is the name given to measure that seek to give an order ...