What Is A Gift Letter?

A seller disclosure is a form required by most states; the seller uses this form to disclose any known defects of the home. ...

A counteroffer is an offer made by one party that makes changes to the original or latest offer of the other party. ...

A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closing costs within three days of submitting a mortgage loan application. ...

An agent who is authorized to open and run his/her own agency. All real estate offices have one principal broker. ...

An escrow officer - also known as a loan officer - is the person that walks you through the closing process. They are usually employed by the title company that you are working with. They ...

Zoning is the laws that establish how a property can be used and what codes must be followed when erecting new buildings. ...

Changes in the market conditions, or improvements to the property that increase the value of the property. ...

A title search is the process of reviewing court records and other records to ensure that there are no liens or claims against the property you are buying. ...

A saving bank owned by its depositors. They are mostly located in the northwestern United States and are an important supplier of real estate financing. All mutual savings banks are state ...

Any person, company, or legal entity who signs a check or note to borrow money. By signing a payment instrument, the maker assumes full financial responsibility. For example, John is the ...

Term used in the real estate industry describing the price requested by a property owner vs. the price a buyer is willing to pay. Bid is the highest price a purchaser is willing to pay ...

Short-term leases are leases that run its completion in a faster time than regular ones.In real estate, short term-leases usually refer to temporary housing; that is: rent.The length of a ...

The proportionate division of expenses including taxes, interest, insurance, rents, and other property-related expenses at a closing between the buyer and the seller. ...

Schedule showing the breakdown of each loan payment that consists partly of interest and partly of principal. ...

Is a stockholder-owned corporation known as Freddie Mac. Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and packages them as securities which are ...

Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of ...