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
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(1) Judgment against a defendant who does not respond to the plaintiffs lawsuit or fails to appear in court at the hearing or trial date. (2) Judgment issued by the court against the ...
Formal statement by an auditor, after through examination and consideration, as to whether a real estate company's financial statements fairly present financial position and operating ...
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person designating an agent to act for him. Primary individual having full financial liability. Amount being risked in a real estate investment. Owner of a real estate business. ...
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Legal proceeding whereby a person's property is attached and used to pay an obligation. The employer may withhold part of the employee's salary to the court until the debt has been paid. ...
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?
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