Qualifying
Definition of "Qualifying"
- Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the financial ability to purchase the property and be eligible to obtain a mortgage.
- In insurance, a period of time during which an individual is eligible to receive benefits until it is determined whether or not fraud or other misrepresentation has occurred. A qualification period is found most frequently in health insurance and pension plans.
Popular Real Estate Terms
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Existing state of affairs with respect to the real estate market and conditions. ...
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Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
Land located on a precipice. ...
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