Estate: The degree, quantity, nature and extent of a person’s interest in real property; such as a fee simple absolute estate, or an estate for years. Estate from period-to-period (periodic tenancy): An interest in land with no contract date of termination.
Real estate is the property, land, buildings, air rights above the land and underground rights below the land. The term real estate means real, or physical, property. "Real" comes from the Latin root res, or things. Others say it’s from the Latin word rex, meaning "royal," since kings used to own all land in their kingdoms. The U.S.
Real Estate Glossary. down payment An amount of money the buyer pays which is the difference between the purchase price and the mortgage amount. dual agency Representing the buyer and the seller in the same transaction by the same agent. Since there is an inherent conflict in fiduciary obligations to two different.
Understanding Mortgage Lingo: A Real Estate Glossary of Terms. Earnest money is typically 1% to 3% of the sale price, deposited via cashier’s check, personal check, or wire transfer one to three days after the seller accepts the final offer. Equity – The amount of a property’s value that the owner actually owns.
We define mortgage, and other industry terms for home buyers. discover helps you understand common mortgage terms and meanings.. glossary list.. Fees incurred in a real estate or mortgage transaction and paid by borrower and/or seller during a mortgage loan closing. These typically include.
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A person licensed to negotiate and transact the sale or lease of real estate on behalf of the property owner. Refinancing. The process of paying off one loan with the proceeds from a new loan using the same property as security. Real estate agents act 2008 (REAA 2008) The Act that provides for the regulation of the real estate industry in New.
Real estate search for a home to buy , browse upcoming Open Houses, or contact your Realtor.. Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions. Real Estate Glossary
How Will the New Flood Insurance Bill Impact You? – St. Petersburg, FL Real Estate Blog Flood Insurance Options. Flood Insurance is offered through the National Flood Insurance Program.Although the government actually provides the coverage, doug mayer agency issues the policy and, in the event of flood damage to your insured property, would also service your claim.