Listing Info
LISTING INFO
Arbitration
Arbitration A process where disputes are settled by referring them to a fair and neu-tral third party (arbitrator). The disputing parties agree in advance to agree withthe decision of the arbitrator. There is a hearing where both parties have an opportunity to be heard, after which the arbitrator...
Open House
Open House When the seller’s real estate agent opens the seller’s house to the public. You don’t need a real estate agent to attend an open house. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...
Offer
Offer A formal bid from the home buyer to the home seller to purchase a home. 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: +1-844-400-2828...
Note Rate
Note rate The interest rate stated on a mortgage note, or other loan agreement. 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:...
Note
Note A written promise to pay a specified amount under the agreed upon conditions. 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:...
Appreciation
Appreciation An increase in the market value of a home due to changing market conditions and/or home improvements. 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:...
Non-Liquid Asset
Non-Liquid Asset An asset that cannot easily be converted into cash. 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: +1-844-400-2828 Phone...
Application Fee
Application Fee The fee that a mortgage lender or broker charges to apply for a Arbitration: A process where disputes are mortgage to cover processing costs. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...
Net Worth
Net Worth The value of a company or individual’s assets, including cash, less total liabilities. 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...
Annuity
Annuity An amount paid yearly or at other analysis of the property, including examples regular intervals, often at a guaranteed of sales of similar properties in order to deminimum amount. Also, a type of insurance velop an estimate of the value of the proppolicy in which the policy holder makes...
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Encumbrance
Encumbrance Any claim on a property, such as a lien, mortgage or easement. 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:...
Encroachment
Encroachment The intrusion onto another’s property without right or permission. 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:...
Employer-Assisted Housing
Employer-Assisted Housing A program in which companies assist their employees in purchasing homes by providing assistance with the down payment, closing costs, or monthly payments. Real estate words and definition For other words and definitions related to real...
Easement
Easement A right to the use of, or access to, land owned by another. 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...
Flood Insurance
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 For other words and definitions related to real...
Flood Certification Fee
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 For other words and definitions related to real estate auctions For all active auctions, and...
Buydown Account
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 For other words...
Buydown
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 For other words and definitions related...
Building Code
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 For...
Broker
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 For other words and definitions related to real...
Bridge Loan
Bridge Loan A short-term loan securedby the borrower’s current home (which is usually for sale) that allows the proceeds to be used for building or closing on a new house before the current home is sold. Also known as a “swing loan.” Real estate words and...
Bona fide
Bona fide In good faith, without fraud. 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: +1-844-400-2828 Phone...
Biweekly Payment Mortgage
Biweekly Payment Mortgage A mortgage with payments due every two weeks (instead of monthly). Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Before-tax Income
Before-tax Income Income before taxes are deducted. Also known as “gross income.” 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:...
Bankruptcy
Bankruptcy Legally declared unable to pay your debts. Bankruptcy can severely impact your credit and your ability to borrow money. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...
Balloon Payment
Balloon Payment A final lump sum payment that is due, often at the maturity date of a balloon mortgage. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Balloon Mortgage
Balloon Mortgage A mortgage with monthly payments often based on a 30-year amortization schedule, with the unpaid balance due in a lump sum payment at the end of a specific period of time (usually 5 or 7 years). The mortgage may contain an option to “reset” the...
Balance Sheet
Balance Sheet A financial statement that shows assets, liabilities, and net worth as of a specific date. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Assumption Fee
Assumption Fee A fee a lender charges a buyer who will assume the seller’s existing mortgage. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Assumable Mortgage
Assumable Mortgage A mortgage loan that can be taken over (assumed) by the buyer when a home is sold. An assumption of a mortgage is a transaction in which the buyer of real property takes over the seller’s existing mortgage; the seller remains liable unless released...