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
A capital asset. An expenditure to buy property and other capital assets that generate revenue. Securities of real estate companies. ...
The clause in a deed beginning with the words " to have and to hold" limiting or defining the ownership nature of the estate in the property granted by the deed. Declares the type of ...
Final property appraisal estimate arrived at by applying appropriate appraisal methods. ...
One-story house with a low pitched roof often having an open floor plan. ...
Specific portion of a larger land tract. A parcel can also be a lot in a property subdivision. ...
Branching is a widespread phenomenon in banking and other financial domains. A branch office defines an office or business bureau that a company opened in another location to provide ...
Charge assessed a mortgagor by the mortgagee when assuming a pre-existing mortgage. The assumption fee is often included in the closing costs when purchasing property. ...
(1) Paved roadway constructed above lowlands such as a swamp. (2) Roadway in ancient Egypt connecting the valley temple with a pyramid. ...
Evaluation of a contemplated project or course of action, according to pre-establisher criteria to determine if the proposal meets the requirements of the property owner. An analysis is ...
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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