Definition of "Lock"
The number of days that the lender guarantees the loan's rate and terms. Without a written lock-in agreement, the lender is free to change the rate and terms at the time of loan closing. A slight increase in rate is commonly charged by lenders for lock-ins.
Popular Real Estate Terms
Written agreement in which the lessee pays rent to the lessor for the use of real property for a stated time period. An example is the tenant's rental of an apartment or office space. ...
A step's edge. ...
List of business property. ...
Land zoned for industrial use including manufacturing, factory office and warehouse space, research and development. ...
Structure built into the water from the land providing a facility for boats to tie up. A dock will often provide utility access ...
Right of an individual to be offered something before it is offered to others. For example, a tenant whose apartment is going to be converted to a cooperative has the first right of ...
Situation in which a business debts exceed the fair market value of its assets. ...
The individual responsible for an escrow account. ...
A roof having two slopes on each side. The second slope is longer than the first part of the roof and extremely steep. ...
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