Conversion of a rental apartment house to individual condominium ownership of a portion of the minimum ownership of a portion of the building. Often, the tenant is given an opportunity to ...
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 ...
percentage of land that may be used productively to the total square footage of the land. For example, if total square footage is 40,000 but only 30,000 square feet may be built upon ...
When an Appraisal is done, its ultimate goal is to define a Market Value for that property. So, in short, market value is the value of a real estate property in a free competitive ...
Received immediately when an investment is made or contract signed. For example, a real estate limited partnership may require that an investor pay a 3% sale fee at the time of initial ...
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. ...
Came here wondering if you need a permit to build a bunker? Of course you do. Come on, this is America; you need a permit to build anything! Especially a deep earth bunker, which might go ...
Yes, you can use two realtors® to sell your house. Actually, more than two. You can use how many you’d like.
It’s what is called an Open Listing. In it, the home seller ...
Hey, don’t feel ashamed for not knowing what is the difference between a real estate broker and a real estate agent. This is truly one of the most common real estate confusions out ...
A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...
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 ...
Yes and no.The yes part of the answer is pretty standard; we’ve been covering it in the many many articles we put out on our real estate advice and tips page exposing the ...
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 ...
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