Property Brief


Definition of "Property brief"

Summarization of the attributes and characteristics of the property such as that indicated in the legal records.

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Popular Real Estate Terms

Actual Age

There’s no mystery. The actual age of a property is the chronological age of a property. Say a house was built two decades ago. That house&rsquo ...

Opinion Of Title

A certification of a property title issued by an attorney after examining the abstract of title. The attorney's opinion of title is essential to obtai ...

Guardian

Person serving as a property administrator for someone who is incompetent due to a mental or physical deficiency. ...

Present Value Analysis

Way of valuing real estate that computes the discounted present value of an expected stream of income, including rental income and future capital gain ...

Utility Easement

An easement granted to a public utility. ...

Assumption Fee

Charge assessed a mortgagor by the mortgagee when assuming a pre-existing mortgage. The assumption fee is often included in the closing costs when pur ...

Popular Real Estate FAQ

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair ...

What Is PITI And What Does It Stand For?

PITI is the total monthly payment you make on a house-Principal, Interest, Taxes, and Insurance. ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

Why Should I Use A Real Estate Agent?

A real estate agent is more than just a \"sales person.\" They act on your behalf as your agent, providing you with advice and guidance and doing a j ...

Besides Making My Monthly Mortgage Payment, How Can I Build Equity Into My House?

When making your monthly mortgage payment, try to send a little bit more. This will go directly to the principal of the loan rather than the interest ...

What Is Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

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