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
The portion of a structure providing the primary ground support. Foundations have a foundation wall forming a permanent below grade retaining wall. All modern foundations rely on concrete ...
What does Act of God mean? Acts of God or “force majeure” is typically how an insurance policy classifies peril situations that could not be prevented or defended by men. ...
A cooperating broker or agent defines a real estate broker who helps another broker in a private property transaction. Typically, the cooperating broker represents the seller and is ...
Land located next to water that has and will continue to experience water damage. The land generally is not suitable to build a structure on. In some cases, federal or local government may ...
Gift of real property as stipulated in a will. ...
An official indicating intensity of land use in a zoned urban area. ...
Typically, a general contractor or GC in the real estate industry defines a person who signs a contract with a property owner or developer. Thus, they assume full responsibility for ...
City apartment building that is overcrowded, poorly constructed or maintained, and generally part of a slum. In law, a tenement also refers to possessions of an individual that are ...
Measurement of investment return that relates current income to the investment cost. Example: Brian Whyke bought a parking lot for $150,000, which generates annual revenue of $90,000, ...
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