Hold Back
Definition of "Hold back"
Portion of a construction loan withheld by a lender from a contractor until all construction work is satisfactorily completed or sufficient space is rented in a floor loan. The holdback payment is usually large enough to prevent the contractor from making a profit, but still allowing enough funds to compensate subcontractors and suppliers. for example, a contractor acquired a construction to complete a $200,000 home construction project. The bank providing the construction loan had a $25,000 holdback provision until the home received a certificate of occupancy.
Popular Real Estate Terms
Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...
(1) Method of measurement lumber using the board foot cubic measure. The board measure is used to estimate quantities and prices of lumber materials. (2) Method of estimating lumber ...
Legal action between a plaintiff and defendant. ...
English style of architecture characterized by carving and paneling and flattened arches. ...
In between, intermediate, intervening; passing an interest from a principal to a second party and then to a third party. ...
Levied on those benefiting from the installation of a sewer. ...
A mortgage on which the interest rate is constant, but the payments are structured to increase, so the loan is paid off much earlier. ...
An agreement, debt, or low which can be operationalized, fulfilled, completed, or performed. ...
A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...
Have a question or comment?
We're here to help.