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
Mortgage clause causing the mortgagor to pledge additional properties, mortgaged or not, as collateral to the present mortgage. Failure to pay any of the other mortgages causes a ...
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Unrealized gain in value of real property from holding it. The increase value is not recognized in the accounts. When the property is sold there will be a realized gain or loss. ...
Place where real estate is situated. The geographic location of property affects its value. For example, real estate in a good neighborhood is worth more. ...
Judicial action to establish property ownership. In a quiet action, adverse claimants are required to state their claims or be forever stopped from any future title claim. The basic ...
Founded in 1908 and located in Washington, DC, BOMA has 7,500 members and 10 regional groups and 6 state groups. It consists of managers, owners, investors, and developers of commercial ...
Landlord's right to receive the value of the tenant's property to pay for unpaid rents or for damages to the leased premises. ...
Rent that a comparable property would mandate in a given real estate rental market. Market rent is a competitive rate based on rents other comparable properties receive. For example, in a ...
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