Real Estate Words Glossary Archive


Mortgage company or mortgage banker

Saturday, December 15th, 2007
Financial intermediary that offers mortgages to borrowers, and then resells them to various lending institutions, government agencies, or private investors.


Mortgage broker

Saturday, December 15th, 2007
Individual or company that brings borrowers and lenders together; a loan broker.


Mortgage

Saturday, December 15th, 2007
Legal document that creates a lien on property; it secures the repayment of a loan.


Maturity date

Saturday, December 15th, 2007
Date on which principal and interest on a mortgage or other loan must be paid in full.


Master plan

Saturday, December 15th, 2007
Long-range, comprehensive guide for the physical growth or development of a community.


Master deed

Saturday, December 15th, 2007
Document that converts a parcel of land into a condominium subdivision.


Marketable title

Saturday, December 15th, 2007
Good and clear title that is free from reasonable doubt as to who the owner is.


Market value

Saturday, December 15th, 2007
Generally accepted as the highest price that a ready, willing, and able buyer will pay and the lowest price a ready, willing, and able seller will accept for a property.


Market price

Saturday, December 15th, 2007
Actual selling price of a property.


Maintenance fees

Saturday, December 15th, 2007
Paid by a condominium unit owner to the owners' association for upkeep of the common areas.


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