Economic Base Analysis

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 ...

Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...

The net sales price of a piece of property where the commissions and other closing costs are subtracted form the actual sales price. ...

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 ...

A borrowers other debts, such as auto loans and credit cards, figured into the debt-to-income ratio. ...

Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...

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

You came in here looking to find out what happens when a property starts to depreciate but the truth is that the question comes from a false premise because not all properties depreciate. ...

Wondering what is the difference between a condominium and an apartment? Well, differently from the difference between an apartment and a flat, this one is not so much related to word ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

The cost of homeownership in the US is often the main concern of first time home buyers. Is it better to own a property or to rent? Is it better to postpone the purchase of a home or the ...

Are you wondering what is the difference between being prequalified and preapproved for a loan? Do you always get confused because they seem pretty much the same thing, right? But there is ...