Demise

Person's sole ownership of real property. ...

House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Normally, the prefabricate house is trucked ...

A legally transferable debt instrument by which the issuer agrees to pay the payee within a certain time period. Note usually pay a specified rate of interest tied to the market rate of ...

Provision in a mortgage permitting the owner of property to transfer the mortgage to a buyer. ...

Descriptive of the architectural development of property in a certain area. For example, a housing subdivision may use very similar building architecture throughout the development. All the ...

Cost of the standard unit of area that is used to measure a parcel of real estate. Commercial property rentals are generally quoted on the basis of square foot cists. For example, a ...

Branch of the federal government responsible for collecting taxes including personal and corporate. The IRS administers tax rules and regulations, and investigates tax irregularities. ...

(1) Cash revenue from product sales or services rendered less cash expenses. It is different from accrual earnings. (2) The money available after deducting operating expenses and mortgage ...

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

The right of a property owner to have and enjoy all of the advantages of property ownership including air right, mineral rights, riparian rights, and rights to alluvion, as well as manmade ...

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 ...

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 most likely the most ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...

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 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 ...

A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation. ...