Real Estate Words Glossary Archive


Deed

Wednesday, December 12th, 2007
Written document that when executed and delivered conveys title to real property.


Credit report

Wednesday, December 12th, 2007
A past history of debt repayment used by creditors as an indicator of future readiness to responsibly repay debt.


Counteroffer

Wednesday, December 12th, 2007
An offer made in response to an earlier, unacceptable one; it terminates the original offer.


Cooperative

Wednesday, December 12th, 2007
Land and building owned or leased by a corporation which in turn leases space to its shareholders, who are also part owners of the building and have a proprietary lease. In lieu of rent, they each pay a proportionate monthly or quarterly fixed rate to cover operating costs, mortgage payments, ...
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Conveyance

Wednesday, December 12th, 2007
Document used to transfer title. A deed is a conveyance.


Convey

Wednesday, December 12th, 2007
To transfer property from one person to another.


Conventional loan

Wednesday, December 12th, 2007
Real estate loan that is not insured by the FHA or guaranteed by the VA.


Contractor

Wednesday, December 12th, 2007
One who contracts to do something for another. For example, in construction, a specialist who enters into a formal construction contract to build a real estate structure or handle renovations, improvements, and additions to an existing structure.


Contract

Wednesday, December 12th, 2007
A legally enforceable agreement between two or more parties. To be valid, a real estate contract must be dated, in writing, include a consideration, have a description of the property, the place and date of delivery of the deed, and spell out all terms and conditions that were mutually agreed ...
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Contingency

Wednesday, December 12th, 2007
A provision in a contract that keeps it from becoming binding until a certain event happens. A satisfactory inspection report might be a contingency.


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