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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.
Feb 13, 2013 · Property terms, like the ones used by estate agents, can be a potential minefield for any new aspiring property investor. We also get asked how to land the right ‘type’ of estate agent in order to get the best ‘bang for your buck’ property deals.
Nov 9, 2022 · FSBO: For sale by owner (FSBO), pronounced “fizz-bow,” is a term for people who sell their homes themselves without using a real estate agent. Sometimes buying a home that is FSBO can result in...
- 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.
Sep 13, 2024 · Real property is a common technical term for “real estate” that is transferred from owner to owner by written deeds. For many of us, it could mean a house or a condominium, but...
Black’s Guide’s Glossary of Real Estate Terms provides a complete reference dictionary of terms and phrases used in the commercial real estate industry. These definitions have been endorsed by numerous industry organizations as the Market Standard for their respective regions.
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What does Reo mean in real estate?
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.
