Definition of "Qualifying"

Kevin Carney real estate agent

Written by

Kevin Carneyelite badge icon

The K Co. Realty

  1. 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.
  2. 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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

New cost less accumulated depreciation to date. ...

Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...

Articles of personal property installed by a tenant under the terms of a lease for purposes of use in his or her trade or business, Trade fixtures are removable by the tenant before the ...

Favorable occurrence providing a good chance for success, usually in financial terms. ...

The imposition or collection, usually by legal or governmental authority, of an assessment of a specified amount. An example is a tax assessment on real estate. ...

Financial institution that channels the savings of its depositors mostly into mortgage and home improvement loans. It concentrates on originating , servicing, and holding mortgage loans. ...

Period of time between valuations of property for tax purposes in a given locality. ...

Fee payable because of late payment. For example, a mortgagor is assessed a $30 late charge by the bank for not paying the mortgage payment when due. ...

Potential customer or client in which there is a realistic chance of making the sale for the product or service. An example is a prospective purchaser of real estate that the real estate ...

Popular Real Estate Questions