Real Estate Terms

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 clau...Read More

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 an...Read More

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths weekly word wizard! Here are the words for this week. Contingency – A condition that must be met before a contract is legally binding. Delinquency – A loan in which a payment is overdue but not yet in default. Due-On-Sale Provision – A provision in a mort...Read More

Weekly Word Wizard – RealtyMyths

Welcome back to RealtyMyths weekly word wizard. Here are some real estate terms that you should know. Deed – A legal document, duly executed and delivered by the grantor that conveys to the grantee some right, title or interest in or to real estate. Delinquency – A loan in which a payment...Read More

Real Estate Word Wizard

Welcome back to RealtyMyths weekly word wizard. Here are some real estate terms that you should know. Collateral – In a home loan, the property is the collateral. The borrower risks losing the property if the loan is not repaid according to the terms of the mortgage or deed of trust. Condominiu...Read More

Real Estate Word Wizard

Welcome back to RealtyMyths weekly word wizard! Here are some real estate terms that you must know. 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 promi...Read More

Weekly Word Wizard

Welcome back to RealtyMyths weekly word wizard! Here are some real estate terms that you must know. Abandonment – The relinquishment of all rights and title to a property with no intention of reclaiming ownership. Abstract of Title – A condensed history of the title to parcel of land cons...Read More

Weekly Word Wizard

Welcome back to RealtyMyths weekly word wizard! Here are some terms that you should know. Capital budget An estimate of costs to cover replacements and improvements and the corresponding revenues needed to balance them, usually for a 12-month period. Different from an operating budget. Cost of equity...Read More

Weekly Word Wizard

Welcome back to RealtyMyths weekly word wizard. Here are some real estate terms that you should know. Acceleration clause: Usually written into a mortgage to allow the lender to accelerate or call the entire principal balance of the mortgage, plus accrued interest when the payments become delinquent....Read More

Weekly Word Wizard

Welcome back to RealtyMyths weekly word wizard! Here are the terms that you should know before buying your first home. Active — A property that is on the market and available for sale. It may have received offers but none have been accepted. ARM — Adjustable-Rate Mortgage. A mortgage loan with a fluc...Read More

RealtyMyths Weekly Word Wizard

Welcome back to RealtyMyths weekly word wizard. Here are some terms that you should know before buying your first home. DTI — Debt-to-Income. The total percent of a borrower’s income that is paid toward debt each month calculated as a ratio of a borrower’s gross monthly income over his debts includin...Read More

Weekly Word Wizard

Welcome back to RealtyMyths Weekly Real Estate Word Wizard! Here are some terms that you should know. Arms-length transaction — Both parties to a transaction are acting in their own self-interest. Neither party is pressured by or acts in connection with the other to assure the fair market value of th...Read More

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