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
The American Real Estate and Urban Economics Association (AREUEA) is a non-profit association founded in 1964, during the Allied Social Science Association located in Chicago. Important to ...
A delay in making a principal payment on a mortgage that a bank allows a debtor for current financial difficulties. The extension of a loan at maturity at the 'going' market interest ...
What a piece of property could be sold for on the market. ...
Part of the premiums and interest that have not been returned to the annuitant before his death. ...
See common law. ...
Equals the tax divided by taxable income. Foe example, if the tax is $30,000 on taxable income of $120,000 the effective tax rate if the business is 25% ($30,000/$120,000) ...
Privilege granted by a franchiser to a franchisee permitting the latter to operate using the franchiser's name. The franchisee must pay a franchise fee for such right. In addition, the ...
Right to substantive real or personal property having tangible body and form. For example, a corporeal right to a house, property, furniture, or fixtures. ...
Window having several overlapping glass louvers that are installed in a common window frame and pivot synchronously as a window lever or crank operating device, installed at the bottom of ...
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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