House Rules

We see a lot of people confusing Real Estate Agents and REALTORS® as if it was the same thing. But it’s not. The term REALTOR® can only be used if the real estate agent is a ...

A person or company in whose name real property is transferred. For example, real estate securities may be kept in a street name registered to the brokerage firm (nominee) irrespective of ...

Provision in a lease agreement indicating the maximum amount of operating expenditures that must be incurred by the landlord in a given year. Any amount incurred in excess of this amount ...

A notice, usually in writing, in which notice of termination is given by one individual or business to another. It is pursuant to a cancellation provision in a contract to forestall ...

Person providing advice for compensation about real estate. ...

Compensation representing the fair market value of a property taken in an eminent domain action. Foe example, Brian received $150,000 for his home which was condemned in an eminent domain ...

(1) Land adjacent to a lake, river, or stream that can also be part of a flood area. (2) Land at the bottom of a valley or glen. ...

Term used in the real estate industry describing the price requested by a property owner vs. the price a buyer is willing to pay. Bid is the highest price a purchaser is willing to pay ...

Basic points relates to changes in the interest rate for your home. ...

Paid advertorials are articles written by public relations professionals that have just one goal in mind - to get you to buy a home. I\'m sure you\'ve seen them all over Newspaper Ads, ...

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restricted hazard areas, public open spaces and ...

Since real estate is one of the most valuable assets on Earth, architects and builders have to comply with a number of building codes, depending on the size and destination of their ...

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called 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 ...

When you are prequalified, the lender gives you an estimate but does not formally commit to giving you 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 ...