Liquidation Price

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 ...

Arrangement the insured and insurer share on a proportional payment for a loss. ...

Sudden, drastic change in organization, direction, objectives, strategies, or functioning. It is often associated with a new owner who wants things his way. Managers and employees may ...

Structure have two dwelling units under the same roof. Two-story apartment unit. ...

In a construction loan, payments made to a contractor as the various construction stages are completed. The contractor uses progress payments to pay the various subcontractors and suppliers ...

A type of real estate investment trust (REIT) that does not own property but gives short-term financing for construction loans or for permanent mortgage loans for major projects. ...

Preference. Precedence. Something given prior attention. Something having a higher level of importance or ranking. Example of when priority apply are a prospective tenant for an ...

The right to possess, exclusively occupy, enjoy, control, and dispose of real estate. Ownership rights to realty are granted by the ownership of a title to real property. ...

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 ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...

A limit on an adjustable-rate mortgage. ...

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 ...

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. ...

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

A very common real estate question is:Do Tiny Houses depreciate?Short answer is: yes, tiny houses do depreciate. But let’s explain the “why”s so we get to the bottom of ...

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations for the upkeep of the property. ...