Contract Price
Definition of "Contract price"
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical.
Popular Real Estate Terms
Road or highway acting as a frontage boundary. ...
Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...
Provision in a mortgage that requires the final payment to be substantially more than all other payments. ...
Farm land. Land that has trees on it. ...
A special kind of fixed rate mortgage (conventional mortgage) in which the monthly payments are less in the beginning years and more in the later years. After five years it usually levels ...
Document describing the benefits and provisions for people or businesses covered by group insurance. Document in life and health insurance issued to a member of a group insurance plan ...
Horizontal wood siding commonly used on the exterior of buildings which overlap each other. ...
The individual who receives an interest in a life estate after the original life tenant's interest expires. This normally occurs after the death of the life tenant. For example, Mrs. ...
An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan. ...
Have a question or comment?
We're here to help.