Bona Fide Purchaser

Established federal, state or local structural building requirements that have to be adhered to so as to receive certification by the government authority. Housing code enforcement is ...

Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...

Named after Sir Robert Torrens, a British administrator in Australia. The torrens system is a state-sponsored system of land title registration, not applicable in states, such as California. ...

Ask Price is the initial listed price for a piece of real estate.It’s important to understand that, in the real estate world, there’s no such thing as a fixed price when buying ...

Price of a bond or note plus accrued interest. ...

Subordinate lien to a previous lien. Generally attached after a previous, and therefore senior, lien has been attached to property. In the event of a foreclosure action where there are ...

Initial or senior mortgage on property. It comes before all subsequent mortgages, and the mortgage has precedence in payment if default occurs. ...

A bilateral contract is a pretty straightforward term. No horseplay there. It’s a legal agreement between two individuals who both agree to do (or not to do) a specific act. The ...

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 ...

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 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 ...

Considering that property depreciation is the phenomenon of an asset losing worth due to its use over time, home depreciation is not only common but inevitable. However, this is ...

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 ...

If you’re looking into how to get a job in real estate and arrived at this page: congratulations; you’ve just made a big step toward your first real estate job! Not only ...

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 ...

Conceived in 1944, the VA loan program is one of the oldest facilities offered to veterans and service members. This type of loan is guaranteed by the United States Department of Veterans ...