Preclosing
Definition of "Preclosing"
Mock closing; all information is available prior to an actual closing in order to insure all documents are properly executed by the appropriate parties. A preclosing is normally used only when it is anticipated that the actual closing could be complicated by many extraneous factors.
Popular Real Estate Terms
Nature and ability of soil and other materials to withstand weight of a structure. ...
Individual renting a residential or office unit. ...
The ability to pay is a self-explanatory term used in Real Estate to determine if the Home Buyer has the financial health to honor a deal. Mortgage Lenders can't afford to lend out money ...
What a piece of property could be sold for on the market. ...
A real estate professional’s job is to represent their seller’s or buyer’s best interest in a real estate transaction through an agency relationship. This means that the ...
The Department of Veterans Affairs (VA), formerly known as Veterans Administration, issues the Certificate of Reasonable Value (CRV), an appraisal, determining the highest value and loan ...
Exterior wall not supporting a load, mostly found in office buildings. ...
(1) Rectangular area bounded on all sides by consecutive streets. It is part of a platted area. (2) Substantial amount of real estate properties to be sold together. (3) Group of houses, ...
Insulating material attached to crevices around doors and windows to prevent air from either entering or escaping from a structure. Tacked, stapled, or glued onto the surfaces of the doors ...
Have a question or comment?
We're here to help.