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
In commerce and business, margin as a general term is defined as by the difference between the amount of money spent on a product and the selling price of it. The margin usually appears as ...
A judicially approved plan in which a persons obligations are paid over three years. It is an arrangement for the repayment of debts which permits a credit user in severe financial straits ...
Raised concrete border constructed along a street or a sidewalk. A curb prevents vehicle from going on the adjacent property and sidewalks as well as directing runoff into storm drains. ...
A binding judicial determination of the rights and standing of litigants. A declaratory judgment does not result in any relief for the action brought before the court. It merely ...
Charge assessed on the remaining principal, often contained in mortgages, when an obligation is paid before its due. ...
Property interest a person has that is presently possessed by another. Upon the termination of the possession, the property reverts to the grantor. ...
The definition of a property brief is a document including the summarization of the attributes and characteristics of the property. Officially issued legal records are supposed to include ...
Economic policies designed to reduce the fluctuation in the business cycle. An example is Federal reserve monetary policies. An attempt by an underwriter to prevent a market price of a ...
Covering studs on the outside. ...
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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