Floor Loan
A minimum amount a lender is willing to provide on a commercial loan for a building designed to be tenant occupied. A floor loan is progressively funded as the building moves from the initial construction stage of occupancy. At its inception, a floor loan may fund up to 75% of the principal amount of the total loan and then provide additional portions of the principal as the building is constructed.
Popular Real Estate Terms
Document evidencing the passage of title to a purchaser of property sold for taxes. The tax deed is issued upon foreclosure of the property lien. Typically, there is a grace time period ...
Builder's ten-year guarantee that their workmanship, materials, and construction are up to established standards. The HOW provides reimbursement for the cost of remedying specified defects. ...
Lumber of no more than 8 inches wide and 2 inches thick. ...
We know that the board of directors meaning defines a body of high executives who make significant daily decisions. But what is the definition of board of directors precisely? Typically, ...
Type of material or substance typically made for railings around the outdoor front patio and for both sides of the stairs in the front and rear of house. Other examples are chairs and ...
Before getting a loan to buy a property, you must know the definition of foreclosure. A foreclosure is the process of making a loan due immediately. Technically, a loan becomes due way ...
Uncertainty in the price of real estate due to market, economic, political or other conditions. ...
Rooflike cover that extends over any place to provide shelter from the sun, rain, or wind. ...
Agreement to exchange real estate upon specific terms. ...
Have a question or comment?
We're here to help.