Definition of "Buy down"
Cash payment to a lender so as to lower the interest rate on a loan a borrower must incur. The lower rate may apply for all or a part of the loan term.
Popular Real Estate Terms
Measure of land representing one square mile. A section equals 640 acres. ...
Any person, company, or legal entity who signs a check or note to borrow money. By signing a payment instrument, the maker assumes full financial responsibility. For example, John is the ...
Trying to resolve a problem between two individuals up with some compromise or common ground. It occurs more often during times of poor economic conditions. An example is a creditor ...
Local regulation on how real property may be used in a particular locality. The county may establish different zoning classifications and restrictions. If the ordinance is violated, ...
Helps in supporting a building. ...
Purchase of part of property or property rights when condemnation takes place. The owner must be justly reimbursed. ...
Evaluation of the dimensions of a building to determine its ability to meet the needs of the occupants. ...
Modification made by a municipality to the zoning of a locality. A change in zoning typically has to be requested and approved by a zoning commission and then the legislative body. It can ...
Legal action of a landlord to remove a tenant.The tenant may have violated the lease agreement such as for the tenant's failure to pay the rent. ...
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