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About Terry Company
Terry can help you with your home buying or selling needs. He has the support of the #1 Real Estate company in the world. Give Terry a call to discuss your particular Real Estate need and let him map out a plan that will bring your desired results.
Brenda: 352-427-8262
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Real Estate Glossary Terms
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Appraisal
An Appraisal is the evaluation of a real estate property made by a neutral third party expert known as an Appraiser. There are a number of reasons a home Appraisal is done: - To develop a realistic market price- To set the property market value at the time of death of its owner, w ...
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Locking The Loan
An option exercised by the borrower, at the time of the loan application or later, to 'lock in' the rates and points prevailing in the market at that time. When lenders 'lock/' they commit to lend at a specified interest rate and points, provided the loan is closed within a specified 'lock period ...
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Prepayment Penalty
A charge imposed by the lender if the borrower pays off the loan early. The charge is usually expressed as a percent of the loan balance at the time of prepayment or a specified number of months' interest. Some part of the balance, usually 20%, can be prepaid without penalty. Usually, the penalty ...
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Nontraditional Reinsurance
Types of reinsurance instruments under which the amount of risk transferred is more limited than under traditional risk reinsurance instruments. The limitations on risk transfer take the form of an aggregate dollar amount or loss ratio limits according to the reinsurance coverage in effect. Premiums ...
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Tort
In general, a civil wrong, other than breach of contract, for which a court will provide a remedy in the form of a suit for damages. Torts include negligent acts or omissions on the part of a defendant. Liability insurance is designed to cover an insured (defendant) for unintentional tort acts. ...
Real Estate Advice
Homebuyer Tips
Pros And Cons Of Living In Land O’Lakes Florida
If you love the coastline vibes and gorgeous orange sunsets, then Florida is the State for you! In the Sunshine State, there is no shortage of such places, and one of the most popular coastal areas is the Tampa Bay region. If you are looking for the perfect weather, coastal vibes, and a cozy beachfront home, then this is the place for you. On the other hand, these ...
Homebuyer Tips
Living In Port Charlotte, Florida
For decades, Florida has been a popular destination for well-to-do home buyers seeking a decadent, luxurious lifestyle, a temperate climate and a long list of activities that can be enjoyed year round. If this is the life you’re searching for, then we’ve got the perfect place for you: Port Charlotte FL! If you’re looking for a new place to call home, ...
Homebuyer Tips
Pros And Cons Of Living In Huntersville NC
Before you move to a new city, you’re going to want to feel like you know the city. You’ll want to know every little detail, from what the best restaurants are to how much a home costs to whether or not it’s crime rates are high. Before you move, you’ll want to know it all. This is just a normal part of moving to a new town! Now, let’s ...
Homebuyer Tips
Living in a big city is great in many ways. You have unlimited access to different business and job opportunities, and it can never get too monotonous or boring. Big cities never sleep. There is always movement and activity. There is always something to do, and a fast-paced environment requires you to be on your feet all the time if you want to keep up the pace. The ...
Homebuyer Tips
Pros And Cons Of Living In Alpharetta GA
When you begin to toy with the idea of relocating to a new city, no matter how many cities are initially on your list of potential new homes, there is always one that comes out triumphantly in the end. That is the city that fits your family’s lifestyle the best and meets all your expectations for a new hometown. A place where you and your family will fit in, ...
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