LISTING INFO 

Survey A precise measurement of a property by a licensed surveyor, showing legal boundaries of a property and the dimensions and location of improvements.  Real estate words and definition For other words and definitions related to real estate auctions For all...

Subordinate Financing Any mortgage or other lien with lower priority than the first 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...

Servicemembers Civil Relief Act A federal law that restricts the enforcement of civilian debts against certain military personnel who may not be able to pay because of active military service. It also provides other protections to certain military personel.  Real...

Soft Second Loan A second mortgage whose payment is forgiven or is deferred until resale of 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...

Single-Family Properties One- to four-unit properties including detached homes, townhouses, condominiums, and cooperatives, and manufactured homes attached to a permanent foundation and classified as real property under applicable state law.  Real estate words...

Settlement Statement A document that lists all closing costs on a consumer mortgage transaction.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

Settlement The process of completing a loan transaction at which time themortgage documents are signed and then recorded, funds are disbursed, and the property is transferred to the buyer (if applicable). Also called closing or escrow in different jurisdictions. See...

Servicing The tasks a lender performs to protect the mortgage investment, including the collection of mortgage payments, escrow administration, and delinquency management.  Real estate words and definition For other words and definitions related to real estate...

Servicer A firm that performs servicing functions, including collecting mortgage payments, paying the borrower’s taxes and insurance and generally managing borrower escrow accounts.  Real estate words and definition For other words and definitions related to real...

Seller Take-Back An agreement in which the seller of a property provides financing to the buyer for the home purchase. See also “Owner Financing.”   For other words and definitions related to real estate auctions For all active auctions, and properties for sale...

Security The property that will be given or pledged as collateral for a 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 InTouchEmail:...

Secured Loan A loan that is backed by property such as a house, car, jewelry, etc.  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:...

Secondary Mortgage Market The market in which mortgage loan and mortgage-backed securities are bought and sold.  Real estate words and definition  For other words and definitions related to real estate auctions For all active auctions, and properties for sale...

Second Mortgage A mortgage that has a lien position subordinate to the first 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 InTouchEmail:...

Sale-Leaseback A transaction in which the buyer leases the property back to the seller for a specified period of time.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for...

Securities A financial form that shows the holder owns a share or shares of a company (stock) or has loaned money to a company or government organization (bond).  Real estate words and definition For other words and definitions related to real estate auctions For...

Rural Housing Service (RHS) An agency within the U.S. Department of Agriculture (USDA), which operates a range of programs to help rural communities and individuals by providing loan and grants for housing and community facilities. The agency also works with private...

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 For...

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...

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...