Cost-plus Contract

An upper limit on the interest rate that can be charged in a variable rate mortgage over its life. For example, a variable rate loan is initially offered at 7% loan rate, and its interest ...

Opening so that air or gas may enter or leave. For example, an air conditioner has a "vent open" or "vent closed" knob for outside air. The "vent close" switch must be on for air ...

To pass property by will to an heir. Strictly speaking, real estate cannot be bequeathed to an heir, it must be devised. However, if it becomes clear the purpose of the testator was to ...

The units are used as commercial offices. The purchaser of an office condominium owns the title to the individual office unit and not to the property. Maintenance fees are assessed to each ...

Person providing advice for compensation about real estate. ...

Expenditures incurred to develop real estate. An example is the cost to build a shopping center. ...

Person or business indirectly having an interest in an occurrence, transaction, or situation. ...

Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...

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 ...

Are you confused because you can never tell what is the difference between an apartment and a flat? Don’t feel bad about it. Everyone has this doubt. And, to be honest, ...

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. ...

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 ...

Wondering how big is an acre?It is common to hear people say that it's almost the size of a football field without both end zones. But sometimes *almost* is not enough and you need to know ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...

It’s not hard to figure out why a property has a high market value, especially if you have the qualities of a real estate investor. But what happens to the properties that sell for ...

Not only can one convert a warehouse into a home, but many people have been doing just that. Converting a warehouse into a loft living space is actually kind of a trend which started ...