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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Assignment of Mortgage
Assignment of Mortgage A document evidencing the transfer of ownership of a mortgage from one person to another. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...
Warranties
Warranties Written guarantees of the quality of a product and the promise to repair or replace defective parts free of charge. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...
Walk-Through
Walk-Through A common clause in a sales contract that allows the buyer to examine the property being purchased at a specified time immediately before the closing, for example, within the 24 hours before closing. Real estate words and definition For other words...
VA Guaranteed Loan
VA Guaranteed Loan A mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA). Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Veterans Affairs (U.S. Department of Veterans Affairs)
Veterans Affairs (U.S. Department of Veterans Affairs) A federal government agency that provides benefits to veterans and their dependents, including health care, educational assistance, financial assistance, and guaranteed home loans. Real estate words and...
Unsecured Loan
Unsecured Loan A loan that is not backed by collateral. 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:...
Uniform Residential Loan Application
Uniform Residential Loan Application A standard mortgage application you will have to complete. The form requests your income, assets, liabilities, and a description of the property you plan to buy, among other things. Real estate words and definition For other...
Underwriting
Underwriting The process used to determine loan approval. It involves evaluating the property and the borrower’s credit and ability to pay the mortgage. Real estate words and definition For other words and definitions related to real estate auctions For all...
Two- to Four- Family Property
Two- to Four- Family Property A residential property that provides living space (dwelling units) for two to four families, although ownership of the structure is evidenced by a single deed; a loan secured by such a property is considered to be a single-family...
Truth-In-Lending Act (TILA)
Truth-In-Lending Act (TILA) A federal law that requires disclosure of a truth-in-lending statement for consumer credit. The statement includes a summary of the total cost of credit, such as the annual percentage rate (APR) and other specifics of the credit. Real...
Treasury Index
Treasury Index An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans. It is based on the results of auctions by the U.S. Treasury of Treasury bills and securities. Real estate words and definition For other...
Transfer Tax
Transfer Tax State or local tax payable when title to property passes from one owner to 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...
Trade Equity
Trade Equity Real estate or assets given to the seller as part of the down payment for the 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...
Title Search
Title Search A check of the public records to ensure that the seller is the legal owner of the property and to identify any liens or claims against the property. Real estate words and definition For other words and definitions related to real estate auctions For...
Title Insurance
Title Insurance Insurance that protects lenders and homeowners against legal problems with the title. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Title
Title The right to, and the ownership of, property. A title or deed is sometimes used as proof of ownership of land. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...
Third-Party Origination
Third-Party Origination A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package a mortgage loan. See also “Mortgage Broker.” Real estate words and definition For other words and...
Termite Inspection
Termite Inspection An inspection to determine whether a property has termite infestation or termite damage. In many parts of the country, a home must be inspected for termites before it can be sold. Real estate words and definition For other words and...
Taxes and Insurance
Taxes and Insurance Funds collected as part of the borrower’s monthly payment and held in escrow for the payment of the borrower’s, or funds paid by the borrower for, state and local property taxes and insurance premiums. Real estate words and definition For...
Sweat Equity
Sweat Equity A borrower’s contribution to the down payment for the purchase of a property in the form of labor or services rather than cash. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions,...