Proceeds From Resale
Definition of "Proceeds from resale"
Same as term resale proceeds: Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. These expenditures include brokerage commission, bank fees, and advertisements.
Popular Real Estate Terms
An adversary hearing allows both parties to an issue to present their views. A public procedure performed by an administrative or legislative body to investigate certain matters and ...
The right of possession and use of property without undue disturbance by others or adverse claims of others to title or interest. ...
Individual who has a legal obligation to pay money to another. ...
A property title evidencing ownership such as provided in an abstract of title. There are no contingent liabilities or prior unresolved ownership claims. ...
percentage relationship of a specific part of property to the whole property. An example is the square footage of one office to the square footage of all offices in an office building. ...
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Property used consistently for many years by someone without challenge from the owner. Easement resulting from law such as the reasonable expectation that a purchaser of one or two ...
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Absence of a personal liability such as when a creditor may seize an office building used as security for the obligation but cannot attach any other assets of the debtor. ...
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