In Escrow
The phrase used for the period in which the escrow agent communicates to both the buyer and the seller as to what documents or moneys have to be deposited with the escrow agent to satisfy the terms of the purchase and sale. The items collected include moneys to cover mortgage insurance premiums, taxes, hazard insurance, and title insurance. Title Insurance assures that no other person or entity has an ownership right to the property, confirmation that the seller has obtained an adequate loan to pay the purchase price, the property has been inspected for termites, and seller's original deed has been obtained.
Popular Real Estate Terms
Insulation covered on each side by a material, such as metal. ...
Stipulation in a contract on how property can or cannot be used. For example, a rental agreement may stipulate that an apartment may not be used for retail trade. ...
As one of the principles of contract, the lawful object meaning can be defined as an object or action which is authorized, approved, and not prohibited by law. A contract to be legal ...
Date of the valuation of property, usually contained in a report. ...
Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assume Sharon took out a $1,000,000, on year, 10% discounted loan to buy real estate. The ...
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The allocation method estimates the value of the property’s land by gathering information from comparable properties. The allocation method of estimating site value is ideal, however, ...
Used when determining the worth of an annuity that reinvests the amount of recaptured investment at a risk-free interest rate. ...
An offering of securities, stock and/or debt, directly to investors rather then through the public exchange markets. An advantage of a private placement to a real estate business is that ...
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