Common Elements

A mortgage loan where the bank provides the mortgagor the required funds to purchase property the bank has obtained through foreclosure on outstanding mortgages. For example, John obtains a ...

Value of a company's or person's name and reputation, As a result, the business will have a competitive edge, and generate better-than-typical future earnings. ...

Tax assessed on a transfer of property made without adequate legal consideration. This tax is based on the appraised value of the property at the time of transfer.Also, gifts of property ...

Wondering what a Judgment Lien is?Well, a Lien can be consensual or non-consensual, right? Meaning it can be forced or agreed upon by way of a bilateral contract. When we say ...

Traditional style borrowed from the British Georgian architecture in the American colonial period. Colonial architecture usually has two stories emphasizing window detail and shutters. ...

percentage of land that may be used productively to the total square footage of the land. For example, if total square footage is 40,000 but only 30,000 square feet may be built upon ...

Same as term right of first refusal: Right of an individual to be offered something before it is offered to others. For example, a tenant whose apartment is going to be converted to a ...

A corporation that owns housing units and whose tenants purchase shares in the corporation equivalent to the value of their housing unit. Also called co-ops. ...

Wondering how to stop a lien on your property? Well, there is one pre-emptive measure of including in your bilateral contract that failing to comply with whatever obligations the ...

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations for the upkeep of the property. ...

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 ...

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest rate can increase or decrease over the life of a loan. ...

Wondering what is the cash offer definition? Well, the cash offer definition is pretty much what it says, an offer made in cash. But aren’t all offers cash? No one buys a house ...

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 ...

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restricted hazard areas, public open spaces and ...

You probably don't have the correct knowledge to represent yourself. The seller pays the real estate commission, not the buyer, and real estate commissions are already set in the listing ...