What Is An Assessed Value?

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. ...

You’re researching your options regarding a homeowner’s insurance policy and you’re wondering which to get; there are so many! Then, your real estate agent, a great ...

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

A home warranty is a guarantee for certain features of a new home-for instance, the materials and workmanship, the main components of the house, and so on. ...

Cooperative is a form of home ownership in which you own shares in a corporation. In return for the purchase of shares, you are allowed to live in a unit in the co-op building. ...

An origination fee is a fee paid to a lender for processing a loan application. ...

Hey, don’t feel ashamed for not knowing what is the difference between a real estate broker and a real estate agent. This is truly one of the most common real estate confusions out ...

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mortgages (ARMs). This index is based on the results of auctions the U.S. Treasury holds for ...

Major city in a metropolitan area. ...

Same as term reversion: Also called estate in reversion. A vested interest or estate in which a person has a fixed interest in the future. For example, if a grantor is required by the IRS ...

The right of a landowner to have lateral land support from adjacent properties. The right of lateral and subjacent support means that an adjacent land owner may not, for example, lower or ...

Money paid for a real estate project or investment that can be taken off on the tax return as an expense. Expenditures made during construction of a building that do not go directly into ...

Legal responsibility for something. For example, an owner of commercial property (e.g., restaurant) is legally obligated for damages on that property (e.g., restaurant patron falls and ...

Insurance coverage against specified losses that arise from the dishonest acts or defalcations of employees. This bon may be applied to persons or positions. ...

Cubic unit of measure for a board one-foot long, one-foot wide and one inch thick, or 144 cubic inches. These measurements are not actual, since they are stated prior to finishing and ...

Changes made by a lessee to property during the term of the lease. In general, if the changes are permanent such as the addition of a building to lease land, the ownership of the building ...