LISTING INFO

Yes, you can still bid. A cash offer might seem better to some, but waiving the financing contingency can also be attractive. However, forfeiting deposits or other contingencies can introduce risks.     For Other Questions About Auctions & Auctioneers...

Sellers don’t always pick the highest offer. For instance, an offer well above the asking price with a 5% down payment might be rejected if the property doesn’t appraise at the proposed purchase price. How about an offer to finance same as cash with 20% - 25% down...

We define multiple aggressive bidding strategies: MAX BIDDING TOOL, high opening bid, high bid increase (jump bids), short acceptance deadline with collectable funds at the BID AWARD. Some bidders want to end the bidding process. If that is the goal of the buyer, then...

Frequently ask questions about Auctions is very common. Below is a list that people ask when talking about Auctions. These also include questions about how the Auctioneer handles certain situations.. questions range from live auctions to online only Auctions. People...

Pre-Qualification A preliminary assessment by a lender of the amount it will lend to a potential home buyer. The process of determining how much money a prospective home buyer may be eligible to borrow before he or she applies for a loan.  Real estate words and...

Pre-Approval Letter A letter from a mortgage lender indicating that you qualify for a mortgage of a specific amount. It also shows a home seller that you’re a serious buyer.  Real estate words and definition For other words and definitions related to real estate...

Pre-Approval A process by which a lender provides a prospective borrower with an indication of how much money he or she will be eligible to borrow when applying for a mortgage loan. This process typically includes a review of the applicant’s credit history and may...

Assessor A public official who establishes the value of a property for taxation purposes.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...

Power of Attorney A legal document that authorizes another person to act on one’s behalf. A power of attorney can grant complete authority or can be limited to certain acts and/or certain periods of time.  Real estate words and definition For other words and...

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 For other words and definitions related to real estate auctions For all active auctions, and properties for...

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...

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...

PITI An acronym for the four primary components of a monthly mortgage payment: principle, interest, taxes, and insurance (PITI).  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...

Personal Property Any property that is not real property.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com Phone:...

Asbestos A toxic material that was once used in housing insulation and fireproofing. Because some forms of asbestos have been linked to certain lung diseases, it is no longer used in new homes. However, some older homes may still have asbestos in these materials....

Payment Cap For an adjustable-rate mortgage (ARM) or other variable rate loan, a limit on the amount that payments can increase or decrease during any one adjustment period.  Real estate words and definition For other words and definitions related to real estate...

Payment Change Date The date on which a new monthly payment amount takes effect, for example, on an adjustable-rate mortgage (ARM) loan.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...

Partial Payment A payment that is less than the scheduled monthly payment on a mortgage loan.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

Owner-Occupied Property A property that serves as the borrower’s primary residence.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...