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Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths Weekly Word Wizard! Here are the important real estate terms for the week. Bridge loan – Bridge loans are obtained by those who have not yet sold their previous property, but must close on a purchase property. The bridge loan becomes the source of their funds for the down payment. Cash-out refinance – When a borrower refinances his mortgage at a higher amount than the current loan balance with the intention of pulling out money for personal use. Construction loan – A short-term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses. Eviction – The lawful expulsion of an occupant from real property.

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths Weekly Word Wizard! Here are some important real estate terms for the week. Assumption of Mortgage – Buyer takes title to the property by assuming liability for payment of an existing note secured by a mortgage. Building Restrictions – Limitations on the use of property or the size and location of improvements established by legislation or by covenants in deeds. Co-Borrower – An additional individual who is both obligated on the loan and is on the title to the property. Contingency – A condition that must be met before a contract is legally binding.

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths Weekly Word Wizard! Here are the real estate terms for the week. Amenity: An amenity is a feature of a property that makes it more valuable to potential buyers or tenants. The term can refer to features of a single-family home that homeowners include in a real estate listing to attract potential buyers or renters. Asset Protection: Asset protection is the concept of guarding one’s wealth. Asset protection is a type of financial planning intended to protect one’s assets from creditor claims. Attornment: Attornment is the act of granting authority or jurisdiction to a party even though no legal rights exist. Capital Improvement: A capital improvement is the addition of a permanent structural change or the restoration of some aspect of a property that w...

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths Weekly Word Wizard! Here are the terms for the week. Arbitrage: The simultaneous purchase and sale of a security with the purpose of obtaining a higher yield from the differential between its acquisition and selling price. Avulsion: A sudden tearing away of land by the action of natural forces. Bequest: A provision in a will providing for the distribution of personal property. Bilateral contract: A contract in which each party promises to perform an act in exchange for the other party’s promise to perform.

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths Weekly Word Wizard! Here are the real estate terms for the week. Accretion: An increase or addition to land by the deposit of sand or soil washed up naturally from a river, lake, or sea. Actual eviction: The result of legal action originated by a lessor, by which a defaulted tenant is physically ousted from the rental property pursuant to a court order. Air rights: The right to use the open space above one’s property. It can be sold to build a skywalk or for a utility company to erect power lines. Alluvion: The actual soil increase resulting from accretion.

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths Weekly Word Wizard! Here are the terms for this week: Adverse Possession: Adverse possession is a legal doctrine that allows a person who possesses someone else’s land for an extended period of time to claim legal title to that land. Condominium Fee: A condominium fee is paid by all property owners of a condominium complex to cover ongoing maintenance costs. Cross Collateralization: Cross-collateralization is the act of using an asset currently used as collateral for an initial loan as collateral for a second loan. Abstract Of Title: Abstract of Title is the summarized history of all of the titles, transfers and legal actions that are connected to the property.

Weekly News Roundup-RealtyMyths

Hi guys, and welcome back to yet another Weekly news roundup, without further ado, let’s talk real estate. Beginning with PM Modi’s comment on Real Estate, post-budget announcement. PM Narendra Modi said that his govt. will give a boost to the sector, in the CREDAI conference. He also highlighted the steps taken by his govt. in the last 4 & ½ year, to aid the real estate sector.  Next update on CIDCO Lottery 2019. The City and Industrial Development Corporation (Cidco), has announced the lottery result for 1,100 lower income group homes in Navi Mumbai on Feb 14. Earlier, in October, the agency has allotted over 14,800 homes.   Next news from Telangana. K Chandrasekhar Rao, Telangana Chief Minister announced that a comprehensive master plan would be formulated to convert Hyderabad...

Weekly News Round Up – RealtyMyths

Hi guys, and welcome back to the weekly news roundup, where we talk about the current news in the real estate industry. So let’s begin!  Starting with the RBI policy changes. RBI cut the Key Repo rate by 0.25% to 6.25%. The central bank also changed its monetary policy stance to ‘neutral’ from the earlier ‘calibrated tightening’, indicating further relaxing on its approach towards interest rates. Next update on Reliance Industries. To expand the presence in the e-commerce and communication segment, Reliance Industries is planning to invest an additional INR 10,000 crores in West Bengal Update on highways in India. Under the Bharatmala Pariyojana programme, 65,000 km of highways to be built across the country by 2022, at the cost of over INR 5.35 lakh crores, said Nitin Gadkari, Road Trans...

Weekly Word Wizard- RealtyMyths

Welcome back to RealtyMyths weekly word wizard! Here are some real estate terms that you should know. Condotel: A condotel is a condominium project that is operated as a hotel with a registration desk, cleaning service and more. The units are individually owned. Contingency Clause: A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid. Conveyance: Conveyance is the act of transferring an ownership interest in property from one party to another. Curb Appeal: Curb appeal is a term used to describe the general attractiveness of a house or other piece of property from the sidewalk to a prospective buyer.

Weekly News Round Up – RealtyMyths

Hey guys! Welcome back to another weekly news roundup, where we inform you about the real estate happenings of the past week.  So let’s get started.  Beginning with SC’s latest rule. Recently the Supreme Court (SC) has ruled that in a Hindu woman married to a Muslim man is not entitled to the husband’s property. Whereas, their born child is authorised to inherit the property of the father. The development in Unitech Ltd promoters’ case. The bail to Unitech promoters, in a case relating to syphoning of home buyers’ money, has been denied by the Supreme Court saying that the developer had failed to deposit the required money in the court’s registry. Update from Mumbai. The 156-year-old Flora Fountain’s restoration has been completed and was inaugurated for public viewing on 24t...

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths weekly word wizard. Here are some terms for the week that you should know. Condominium Fee: A condominium fee is paid by all property owners of a condominium complex to cover ongoing maintenance costs. The fee is often based on the size of the condo unit and anticipated annual expenses. Contributory Value: Contributory value is the worth or value that a single component or part provides in relation to the total value of the whole. Cross Collateralization: Cross Collateralization is the act of using an asset currently used as collateral for an initial loan as collateral for a second loan. Delinquent: Delinquent describes something or someone that fails to accomplish what is required by law or duty, such as the failure to make a required payment or perform a certa...

Weekly News Round Up

Hi guys, welcome back to the Brand new set of weekly news roundup where we update you about happenings in the real estate world in the past week. So let’s get started! Beginning with good news for the under-construction property owners. The GST Council scheduled to discuss lowering GST on under-construction flats and houses to 5 per cent on January 10, as well as hiking exemption threshold for SMEs.    Update on the housing sector. According to revised National Housing Bank (NBH) data with the new base year the housing prices increased in 33 cities by up to 22% during April-June quarter this fiscal, while rates fell in 14 cities by up to 13 per cent and 3 cities remained constant. Next update on RBI’s latest relief. Due to the RBI’s latest relief on Small value loans to micro and med...

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