by Myers Jackson | Dec 31, 2024 | Auction News
Right of First Refusal A provision in an agreement that requires the owner of a property to give another party the first opportunity to purchase or lease the property before he or she offers it for sale or lease to others. Real estate words and definition CLICK...
by Myers Jackson | Dec 31, 2024 | Auction News
Revolving Debt Credit that is extended by a creditor under a plan in which (1) the creditor contemplates repeated transactions; (2) the creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (3) the amount of credit that may be...
by Myers Jackson | Dec 31, 2024 | Auction News
Earnest Money Deposit The deposit to show that you’re committed to buying the home. The deposit usually will not be refunded to you after the seller accepts your offer, unless one of the sales contract contingencies is not fulfilled. Real estate words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Rescission The cancellation or annulment of a transaction or contract by operation of law or by mutual consent. Borrowers have a right to cancel certain mortgage refinance and home equity transactions within three business days after closing, or for up to three years...
by Myers Jackson | Dec 31, 2024 | Auction News
Replacement Cost The cost to replace damaged personal property without a deduction for depreciation. 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,...
by Myers Jackson | Dec 31, 2024 | Auction News
Repayment Plan An arrangement by which a borrower agrees to make additional payments to pay down past due amounts while still making regularly scheduled payments. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real...
