Definition of "Paper"
Amount received by a seller of real property in the form of credit rather than cash. Interest is typically received on the note. If a house is sold for $300,000 of which $100,000 is cash and the balance in a mortgage, $200,000 of paper has been received. It may be risk for the seller to take paper if the buyer has significant financial problems which prevent him from getting a mortgage at the bank.
Popular Real Estate Terms
Arrangement whereby a party providing financing gets a portion of the ownership. ...
A style of architecture originating in Europe in the 1920s. The international architecture design was very functional and emphasized buildings constructed of steel, reinforced concrete, and ...
A lower phase of a business cycle in which the economy is deteriorating, coupled with a declining rate of business investment and consumer spending. Real Estate prices are typically ...
Evaluation of housing requirements based on family size, ages, occupations, marital status, and other population characteristics. ...
Fee paid only if other criteria are met. ...
Holding and controlling property. It includes not only custody but also having some legal right. An example is occupying real property and enjoying its benefits. ...
location where someone stays on a permanent basis. An example is a home to a family. ...
Yearly tax return filed by an individual or couple. It is due to the federal taxing authority on April 15 for the preceding calendar year. The taxpayer reports gross income, adjustments to ...
Provision in a credit contract specifying that if the lender sues the borrower for late payments, the borrower accepts guilt in advance, irrespective of the reason for nonpayment. ...
Comments for Paper
What form the seller signs when he refuses on an offer?
Feb 25, 2020 08:47:43Hey, Deborah! Are you referring to the RPI Form 184? If an offer is submitted to the agent’s client (the seller) and the offer is rejected and no counteroffer will be made, the agent fills the RPI Form 184. This form is a written rejection of the offer stating that no counteroffer will be forthcoming. We also have an article that points out some of the reasons home offers get rejected, if your interested to find out more about turned down offers.
Apr 08, 2020 11:03:51Have a question or comment?
We're here to help.