(1) Type of loan where the final payment is substantially greater than the previous payments; also termed partially amortized loan. A debt agreement might stipulate a balloon payment when future refinancing is expected. (2) Last lease payment for a lease asset. It includes the residual value of the asset, which is often greater than previous rental payments made during the lease period.
Popular Real Estate Terms
Projecting structure or part of a building. For example, a home was built with balconies jutting out from the sides of the building or a large rock formation constructed out into the ocean ...
Trade group of predominately land developers. ...
An interest in property with the right o possession being postponed into the future until a certain even occurs. There are several possibilities where a future interest in property could ...
Condition that affects the probability of losses or perils occurring. An example is possible earthquake or flood damage to a house. ...
Many homebuyers or real estate investors only think of mortgages when it comes to financial aid in real estate purchasing. Lately, with the increasing desire of homebuyers to not be ...
Storage of inactive items, including automobiles, for a certain period. Normally, a storage facility, charging a fee, provides dead storage of items. To prevent deterioration, dead ...
A hidden or overlooked defect that may manifest itself at a later point in time. For example, a defect in a water pipe is not immediately discovered, and it later results in a massive water ...
Part of a building that is connected to but leads away from the main structure. ...
Sponsor sells interest to real estate investors in one property only. The total amount received from the equity investors is used by the sponsor to buy the property for the partnership. ...
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