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
When a mortgage loan is provided to a borrower, the lender establishes a fund called a tax and insurance escrow to accumulate the debtor's monthly payments for property taxes and insurance ...
ADU in real estate is an abbreviation for Accessory Dwelling Units. In everyday discourse, you might have encountered the term under the following nicknames: granny flat, backyard cottage, ...
An idiomatic expression indicating the desire of an individual to understand new surroundings and all of its nuances including its quality and character. The derivation of the expression ...
Generally, the definition of a deposition means a pre-trial and out-of-court testimony that is given under oath. A deposition is integral to the discovery process to establish a ...
(1) foreclosed real estate or subject property in a bankrupt estate. (2) Income property which is making inadequate returns and has a negative capitalization rate. ...
CE Shop has become a widely used and popular term in real estate. But what does it mean? “CE” stands for continuing education, and in the real estate business, it implies a ...
Individual or business transferring a right or benefit to another person or business. ...
A person who dies without a will and having unknown intentions regarding his estate. In such case, a court administrator is typically appointed to act as an executor in distributing any ...
Counter action by a defendant against a plaintiff. It is an independent action and just a denial of plaintiff's action. ...
Have a question or comment?
We're here to help.