Power Of Sale
provision in a mortgage agreement granting the lender the right to sell the foreclosed property of the borrower if the payments are defaulted upon. The borrower will only recoup the amount exceeding the selling price less legal expenses less the debt balance.
Popular Real Estate Terms
Expenditure to make a specific security or real estate transaction. Real estate transaction costs include survey costs, mortgage points and origination fees, recording fees, state transfer ...
Contains the appliances necessary for the maintenance of an establishment. ...
Architectural plan which may include blue prints of a property project. Designs must meet technological and zoning requirements. ...
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Intent to deceive or never to carry out the provisions of an agreement. ...
Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...
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