What Is A Proration?
A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are living in the house.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
The cost of property, such as a home owned for tax purposes. For example, a home was purchased for $150,000. capital improvements to it cost $15,000. The house was later sold for $230,000. ...
Annual Percentage Rate (APR) is a measure of the cost of credit that must be reported by lenders under the Truth in Lending regulations. The Annual Percentage Rate (APR) takes into ...
Any geographic taxing division where the legally chosen representatives are charged with the responsibility of assessing taxable property and collecting tax revenue. ...
Owner has rights to water on his land. He also has a reasonable privilege to water adjacent to his property that flows through it or abutting it. ...
If you are involved with real estate, chances are you've come across the term "convey" or conveyance. But what does convey mean in real estate? This term is crucial whether you're buying, ...
Situation in which an owner of property sells the property to an investor and then leases the property back, usually for a 20- or 30- year term. ...
Market price pf all the property prior to a condemnation proceeding. ...
Offering price. ...
You can frequently encounter “circa” in everyday discourse, referring to an approximation as an approximate date. Variations of circa are: about, near, and roughly. The ...
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