Search results
- A real estate term used to refer to a property that is in its present condition without the seller giving any guarantees. The term is used when a seller is selling a property in its current condition to a buyer, who is agreeing to purchase it with all its faults, including the faults that are not yet apparent.
commercialconsult.com/2021/10/06/ultimate-commercial-real-estate-glossary/Ultimate Commercial Real Estate Glossary - Top 100 Terms You ...
People also ask
What are the most common real estate terms?
What does title mean in real estate?
Why is a title search important in a commercial real estate transaction?
What does real estate mean?
How many real estate terms do you need to know?
What is a clear title in a commercial real estate transaction?
Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
- Adjustable-rate mortgage (ARM) With ARM loans, interest rates can change after an initial fixed rate period as they adjust based on the interest rate index the ARM is tied to (e.g., LIBOR, COFI, etc.).
- Appraisal. An appraisal is required to gather the estimated value of a piece of real estate. During the home sale, the mortgage lender sends out an appraiser to get a professional opinion of the value of the property.
- Appraisal contingency. An appraisal contingency is a clause that allows a buyer to dissolve a purchase agreement if a home’s appraised value is less than the sale price.
- As-is. A property marketed in “as is” condition usually indicates that the seller is unwilling to perform most if not all repairs. It could also mean that it is priced “as is”, which is typically lower than market pricing in the area.
Estate - The degree, quantity, nature and extent of interest which a person has in real property. Estate in Reversion - The residue of an estate left for the grantor, to commence in possession after the termination of some particular estate granted by the grantor.
- 225KB
- 26
Oct 6, 2021 · In this glossary, you’ll find commercial real estate lease terms, commercial real estate loan terms, commercial real estate finance terms, and other important commercial real estate terms and definitions.
- Conventional mortgage. A conventional mortgage is a loan not guaranteed or insured by the federal government. These borrowers usually make larger down payments (at least 20%), don’t require mortgage insurance, and are at a lower risk of defaulting on their home loan payment.
- Convertible ARM. A convertible adjustable rate mortgage (ARM) allows buyers to take advantage of low interest rates by receiving a loan at a “teaser” loan interest rate.
- Cost of funds index (COFI) A cost of funds index is an average of the regional interest expenses acquired by financial institutions. It’s used to calculate variable rate loans.
- Deed. A housing deed is the legal document transferring a title from the seller to the buyer. It must be a written document and is sometimes referred to as the vehicle of the property interest transfer.
Nov 9, 2022 · Here’s a glossary of the most common real estate terms, with definitions. So you need never be mystified again.
Sep 17, 2022 · If you plan to make a real estate transaction, whether buying or selling, you will come across real estate terminology and definitions that you are unfamiliar with. These are some of the most important real estate terms that buyers and sellers should be aware of.
