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
Study of real estate activities including demand, price, location influence, and current trends. ...
revising the terms of a loan such as when the borrower is experiencing severe financial difficulties. For example, a homeowner lost his job and seeks relief by requesting the lender ...
Transfer of title based on a preceding title transfer of conveyance. A derivative conveyance increases, ratifies, moderates, renews or transfers the stake created by the original ...
Any structure projecting from a wall or other vertical element for the purpose of providing support for a weight or other object. ...
Recording an expenditure having a benefit of more than one year to the cost of the property. ...
Supporting beam or connecting member between two walls. A cross tie gives support for wall structures. ...
Written document by an official granting agency and signed by an empowered official certifying that some specific act including the fulfillment of certain requirements has occurred on a ...
Local government ordinances governing real estate development including structural and design aspects. Zoning ordinances usually define various usage classifications ranging from ...
Financing of a home based on how much equity the homeowner has in it. The interest rate is typically a variable one. ...
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