Package Mortgage
Mortgage on both the purchased real estate and personal property of a durable type. The entire amount financed is considered one mortgage. In residential real estate, a builder might include a stove, refrigerator, dishwasher, or air conditioning in the sale price. For commercial real estate, certain equipment or furniture is often included in the sales price. The advantage to the purchaser is that these items can be financed over a much longer period and at a much lower interest rate than if a separate financial instrument was used. For the builder or seller, these items serve as inducements used in financing the sale.
Popular Real Estate Terms
One who acts as a witness and fives written testimony under oath. ...
Justifiable and fair amount for a real estate transaction based on the conditions and limitations involved in the exchange. ...
Grouping of several columns arranged in intervals supporting an architectural overhang, usually a roof. ...
A shallow yet funny definition of a tax specialist is someone who loved math since 1st grade. He or she has an elephant’s memory and is always up to date with the regulations and ...
Used to compute the tax on a specified taxable income. The marginal tax rate usually increases as the taxable income rises. ...
(1) The exposed trim and molding surrounding a door or window. (2) Woodwork which encases a pipe or structural member. (3) Method of creating a form for the pouring of concrete. ...
Square footage of space a parcel of land has. ...
Position taken by a real estate consultant representing the best interests of the client. ...
Degree of construction of residential property measured in number of units or dollar value. ...
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