Real Estate Words Glossary Archive
Saturday, December 15th, 2007
Relationship of a mortgage loan to the appraised value of a piece of property. Usually expressed to the buyer in terms of how much the lender will lend, i.e. - 75 percent financing.
Saturday, December 15th, 2007
Task of collecting monthly payments, handling insurance and tax impounds, delinquencies, early payoffs, and mortgage releases.
Saturday, December 15th, 2007
Paid by the borrower to get a loan; it covers expenses incurred by the lender, such as the cost of the appraisal, credit report, title search, etc.
Saturday, December 15th, 2007
Contract used for hiring a real estate agent to sell a piece of property. Also a piece of property that is for sale.
Saturday, December 15th, 2007
A debt on a property which encumbers it until the obligation is paid; a mortgage, back taxes, or other claim.
Saturday, December 15th, 2007
A privilege or right granted to a person by a state to operate as a real estate broker or salesperson.
Saturday, December 15th, 2007
Someone who rents to another party through a lease; the landlord.
Saturday, December 15th, 2007
Someone who rents under a lease; the tenant.
Saturday, December 15th, 2007
Opportunity to purchase a piece of property by renting for a specified period, with the provision that the lessee may choose to buy after or during the leasing period at a predetermined sale price.
Saturday, December 15th, 2007
Contract that conveys the right to use property for a period of time in return for a consideration, usually rent, paid to the property owner.
