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 ...
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 ...
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 ...
Every client is important no matter how big or small is a business. But selling real estate is somewhat different than selling doughnuts or hot dogs. Houses are mostlikely the most ...
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 ...
A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan. ...
When you hear someone referring to a real estate agent type as a “general agent”, it might seem that someone is calling that agent “basic”, common. Right? But the ...
Not only can homeowners associations impose pet restrictions but almost 100% of them do.
Here’s the thing: the job of a homeowners associations or HOA is to look at the big ...
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. ...
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 ...
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