Bank Letter

Insurance protection for the replacement cost of damaged property. Thus, the accumulated depreciation is not subtracted in determining the amount of reimbursement. ...

Right to profit by utilizing the assets of another's land. A profit a' prendre would include the right to use and mine another's property recovering and removing any assets. ...

Wall having an air space between the two sides. A hollow wall is often covered with wallboard that is nailed to the wall studs providing an air space between the two sides. ...

(1) Giving up an ownership claim to property. (2) Renunciation of a claim to real property. ...

A person has the option of canceling a contract previously agreed to. ...

Widely used of property deed containing five warranties: Covenant of seisin. This is an assurance the purchaser has possession of the estate in quantity and quality as was purported. ...

Expenditures incurred building a structure, including material and labor. ...

Requires collateral to secure the debt. An example of collateral might be one's home. ...

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount of time. ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...

Wondering how to calculate the fair market value of a property? It helps if you understand that it’s all about an estimate; you’ll hardly bull’s-eye-it. Fair market ...

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 ...

From the beginning, basements were not built to provide living space but a place to hide plumbing, wires and water boilers. Home buyers are always interested in the gross living area of a ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...

So, do real estate agents get paid hourly? – you ask. Listen, currently, it’s difficult to answer how do real estate agents get paid in the first place. There’s been ...

It’s not hard to figure out why a property has a high market value, especially if you have the qualities of a real estate investor. But what happens to the properties that sell for ...