What Is A Buydown?
A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to lower the interest rate but usually raises the price of the house to recoup this loss.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
Taken out on property to replace or repair it if it malfunctions. It covers parts and/or service. An example is a warranty a homeowner takes out on a stove, refrigerator, or dishwasher. It ...
Foreign-born individual not qualifying as a citizen of the country in which he or she resides. ...
To enter illegally. For example, entering property without permission. ...
Operating property for business use, such as managing an office complex. ...
Date of the valuation of property, usually contained in a report. ...
Insurance contract providing coverage for risks primarily associated with negligence and acts of omission associated with third-party injuries or property losses. Property and casualty ...
Corporation having only one person, A corporation sole is primarily used for the purposes of a nonprofit ecclesiastic church related organization. Ina church, the corporation sole is headed ...
The legal requirement of a debtor, obligor, to pay a debt and the legal right of a creditor, obligee, to demand satisfaction of a debt or enforce payment in the event of default. ...
Rezoning of land from a higher density use to a lower density use. ...
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