by Myers Jackson | Dec 31, 2024 | Auction News
Point One percent of the amount of the mortgage loan. For example, if a loan is made for $50,000, one point equals $500. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all...
by Myers Jackson | Dec 31, 2024 | Auction News
Planned Unit Development (PUD) A real estate project in which individuals hold title to a residential lot and home while the common facilities are owned and maintained by a homeowners’ association for the benefit and use of the individual PUD unit owners. Real...
by Myers Jackson | Dec 31, 2024 | Auction News
PITI Reserves A cash amount that a borrower has available after making a down payment and paying closing costs for the purchase of a home. The principal, interest, taxes, and insurance (PITI) reserves must equal the amount that the borrower would have to pay for PITI...
by Myers Jackson | Dec 31, 2024 | Auction News
Assessed Value Typically the value placed on property for the purpose of taxation. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for...
by Myers Jackson | Dec 31, 2024 | Auction News
PITI An acronym for the four primary components of a monthly mortgage payment: principle, interest, taxes, and insurance (PITI). Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON...
by Myers Jackson | Dec 31, 2024 | Auction News
Personal Property Any property that is not real property. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for sale CLICK THIS BUTTON...
