Definition of "Paper"
Amount received by a seller of real property in the form of credit rather than cash. Interest is typically received on the note. If a house is sold for $300,000 of which $100,000 is cash and the balance in a mortgage, $200,000 of paper has been received. It may be risk for the seller to take paper if the buyer has significant financial problems which prevent him from getting a mortgage at the bank.
Popular Real Estate Terms
Factor employed by real estate agents or appraisers to determine the change needed in operating income to obtain a desired rate of return. It is used to evaluate income-producing property. ...
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Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...
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Gift of real property as stipulated in a will. ...
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Before getting a loan to buy a property, you must know the definition of foreclosure. A foreclosure is the process of making a loan due immediately. Technically, a loan becomes due way ...
Approach to determining a capitalization rate for use in valuating property so as to arrive at a suitable purchase price. To the risk free interest rate is added a risk premium to cover the ...
Comments for Paper
What form the seller signs when he refuses on an offer?
Feb 25, 2020 08:47:43Hey, Deborah! Are you referring to the RPI Form 184? If an offer is submitted to the agent’s client (the seller) and the offer is rejected and no counteroffer will be made, the agent fills the RPI Form 184. This form is a written rejection of the offer stating that no counteroffer will be forthcoming. We also have an article that points out some of the reasons home offers get rejected, if your interested to find out more about turned down offers.
Apr 08, 2020 11:03:51Have a question or comment?
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