LISTING INFO
Do I get clear and insurable title?
The buyer is responsible for the title policy if the transaction is insurable. All property is offered "As Is" and "Where Is" with no guarantee or warranty, expressed or implied. Information about known encumbrances or other interests in the property is provided through the title companies search...
When there is cash or no financing contingency, can I still bid?
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 For all active auctions and...
Is it true that sellers don’t always pick the highest offer?
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 under non-refundable terms?...
What are aggressive bidding strategies?
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 make your highest and best...
Frequently asked questions about Auctions
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 commonly ask questions about...
Pre-Qualification
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 definition For other words and...
Pre-Approval Letter
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 auctions For all active...
Pre-Approval
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 involve the review and...
Assessor
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: 411@myersjackson.com Phone:...
Power of Attorney
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 definitions related to real estate...
Our Latest Listings
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,...
Survey
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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...