Circumstance where no people or contents occupy or are kept in a building for at least 60 consecutive days. The same stipulations apply to property coverages as found in unoccupancy.
Popular Real Estate Terms
Have you heard someone talking about a 35-percent rule of thumb and you nodded acknowledging but the truth is that you had NO idea what in the world a “35-percent rule of thumb” ...
An Appraisal is the evaluation of a real estate property made by a neutral third party expert known as an Appraiser. There are a number of reasons a home Appraisal is done: - ...
Something coming before. Examples are the year before, first lien on property, and previous owner of property. ...
Approval given by a local municipality to construct a particular structure at a specific location. The permit may contain certain provisions that require builder compliance. ...
People say time is money. The old-age cliche applies more than ever in our case as we define what the Time Value of Money (TVM) means. You’ll find the term time value for money ...
Mortgage-backed, pass-through securities that segregates mortgage pools into short, medium, and long-term. CMOs arose because GNMA or FHLMC mortgage-backed securities have uncertain time ...
time period, as established by state statute, during which a property owner can redeem a defaulted mortgage or land contract or reclaim a foreclosed property. A property owner acting ...
The geographic moving of an individual from one region to another usually because of a change in employment. Relocation normally involves the complete moving of the individual's ...
The largest financial intermediaries directly involved in the financing of real estate. Commercial banks act as lenders for a multitude of loans. While they occasionally provide financing ...
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