by Myers Jackson | Dec 31, 2024 | Auction News
Flood Insurance Insurance that compensates for physical property damage resulting from flooding. It is required for properties located in federally designated flood hazard zones. Real estate words and definition CLICK THIS BUTTON For other words and definitions...
by Myers Jackson | Dec 31, 2024 | Auction News
Flood Certification Fee A fee charged by independent mapping firms to identify properties located in areas designated as flood zones. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS...
by Myers Jackson | Dec 31, 2024 | Auction News
Buydown Account An account in which funds are held so that they can be applied as part of the monthly mortgage payment as each payment comes due during the period that an interest rate buydown plan is in effect. Real estate words and definition CLICK THIS...
by Myers Jackson | Dec 31, 2024 | Auction News
Buydown An arrangement whereby the property developer or another third party provides an interest subsidy to reduce the borrower’s monthly payments typically in the early years of the loan. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Building Code Local regulations that set forth the standards and requirements for the construction, maintenance and occupancy of buildings. The codes are designed to provide for the safety, health and welfare of the public. Real estate words and definition...
by Myers Jackson | Dec 31, 2024 | Auction News
Broker An individual or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker. See also “Mortgage Broker.” Real estate words and definition CLICK THIS BUTTON For other words and...
