Description | Real Estate Glossary

Definition of "Description"

Lisa McGill

Keller Williams Realty

Formal or legal description of property and its dimensions included in deeds, leases, listing agreements, rental agreements, and sales contracts.

Using beams on an interim basis while a structure is being built. Reinforcing a building with s ...

Funds that the lender collects monthly to pay the monthly mortgage insurance premiums, homeowners in ...

Title to property being given under a court order because the original owner failed to pay the mortg ...

Trust in which a charity receives income from a donated asset for a specified number of years that i ...

Taxable profit or loss arising from a sale. It is reported in the income statement. ...

Insurance coverage for accidents and sickness that are not job related. ...

A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed ...

People finance to obtain a new loan in order to pay off the existing mortgage or to gain access to t ...

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-t ...

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. ...

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews