Title Company
An insurer who researches the title to real estate for the purpose of discovering any unknown liens or encumbrances on the property that may have come into effect before the current purchase of the property. Mortgage bankers lending money to home buyers generally require the purchaser to purchase title insurance. If, after the purchase, a recorded encumbrance surfaces that was not discovered by the title company, it is paid by the title company to the insured as a claim
Popular Real Estate Terms
The allocation method estimates the value of the property’s land by gathering information from comparable properties. The allocation method of estimating site value is ideal, however, ...
An increase in the price or market value of real estate. ...
Person or business that obtains mortgages for others by finding suitable lenders. The mortgage broker sometimes deals with collections and disbursements. Typically the mortgage broker ...
The maximum pre-approved amount that an individual or business can borrow without preparing a new credit request. It is a safety buffer in the event funds are needed for unexpected ...
Amount received when property is changed from one use to another. ...
The concept of a release can define various meanings in the financial and real estate business. Typically, it establishes a discharge or literal escape from a loan borrower's economic ...
Same as term cape cod colonial house: Early American style 1 1/2 story house with a steep gable roof covered with shingles. The bedrooms are on the first floor, but the attic is often ...
An unpreventable, overwhelming, and irresistible force. It is common to place a force majeure clause in a construction contract to indemnify a construction deadline in the event an act of ...
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. ...
Have a question or comment?
We're here to help.