Increase in the value of property. The appreciation may arise for many possible reasons, such as inflation, construction of higher priced homes in the neighborhood, tax incentives, and ...
A form completed out by a borrower specifying personal and financial data to be considered by the lender in evaluating borrower risk. The information typically includes the following: ...
A Bill of Sale is a formal document of the sale of goods or the transfer of title for personal property and chattel from one party to another.
In sum, a bill of sale is a sort of receipt. ...
Three basic methods for setting values on property: (1) The cost approach estimates the replacement value of real property. (2) The comparable sales approach compares properties with other ...
A lien is a legal instrument by which one party – usually lenders and creditors - guarantees the obligation of a real estate owner to do something – generally repays the money. ...
Real estate term describing a buyer who is prepared to comply with
terms and conditions of a purchase contract and has the financial ability to complete the
transaction. In a property ...
A very common real estate question is:Do Tiny Houses depreciate?Short answer is: yes, tiny houses do depreciate. But let’s explain the “why”s so we get to the bottom of ...
Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...
An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the ...
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…
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You’re researching your options regarding a homeowner’s insurance policy and you’re wondering which to get; there are so many! Then, your real estate agent, a great ...
A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...
The cost of homeownership in the US is often the main concern of first time home buyers. Is it better to own a property or to rent? Is it better to postpone the purchase of a home or the ...
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