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
Also called biannual; twice a year. An example is when lease payments are due January 1 and July 1. ...
List of dwelling units, such as homes. ...
Net return rate earned on an equity investment in real estate after deducing any interest costs and taxes. ...
Individual having permission to act ob behalf of a bank or other financial institution in a specified locality to attract interest borrowers. ...
Geographic location that is gradually being developed as an urban area. ...
People often ask themselves, what does interim mean? By definition, interim means a break or pause in a particular activity. As an adjective, interim means a temporary, provisional, or ...
Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...
Charges incurred in making a sale of real estate such as real estate commissions and attorney fees. ...
Right to property depends on some occurrence. ...
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