Cancellation

A property title evidencing ownership such as provided in an abstract of title. There are no contingent liabilities or prior unresolved ownership claims. ...

Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the ...

Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...

The net sales price of a piece of property where the commissions and other closing costs are subtracted form the actual sales price. ...

A mortgage requiring a substantial down payment. It is usually only available to those having good credit, and has fixed monthly payments for the life of the loan. It usually has a 30 year ...

An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...

In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...

Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate ...

The first answer that comes to mind when someone asks how does where you live affect how you live is: do you have a lot of spare time? Because this one takes a while to answer… Like ...

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the property. ...

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. ...

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 ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cover the principal or interest. Instead of declining, the balance of the loan actually ...

There’s really no easy and quick answer to “how much money can I borrow to buy a home?” It will all depend on the overall financial health of the area in question, the ...

Do real estate agents work with home renters? Yes, they do. To be honest, real estate agents are willing to work with everyone. There are some who are specialized in sales and not rentals, ...