(1) Agreement to sell real estate with a pre-arranged reverse but at an established price. This may not be legal in some instances, and any resulting losses may not be tax deductible. (2) Arrangement to rescind specified policy limitations on the insured if further coverage is bought from the insurer.
Popular Real Estate Terms
Evaluation of a contemplated project or course of action, according to pre-establisher criteria to determine if the proposal meets the requirements of the property owner. An analysis is ...
In insurance, an estimable risk for the purpose of calculating an adequate and reasonable premium providing sufficient resources should the company need to pay a claim while maintaining ...
Abbreviation for the Latin term et alii meaning "and others". ...
Early American architecture modeled after the English Georgian architecture having two or three stories with a rectangular design and ample ornamentation often including a widow's walk. ...
(1) Written statement by a responsible individual or entity of the correctness and reliability of something. (2) Written permission to do something, such as receiving a real estate ...
The allocation method estimates the value of the property’s land by gathering information from comparable properties. The allocation method of estimating site value is ideal, however, ...
In real estate, the basis to set an adjustable rate mortgage, such as a 6-month certificate of deposit (CD) rate, cost of funds index, or prime rate. A statistical measure stated as ...
Agreement by a lender to lend money to a borrower. A loan commitment typically includes the amount of money to be lent, the interest rate, and the period of the loan. ...
People often use the term in their everyday discourse, yet many wonder what the meaning of common law genuinely implies. Common law refers to a system of jurisprudence based on court ...
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