Package Mortgage
Mortgage on both the purchased real estate and personal property of a durable type. The entire amount financed is considered one mortgage. In residential real estate, a builder might include a stove, refrigerator, dishwasher, or air conditioning in the sale price. For commercial real estate, certain equipment or furniture is often included in the sales price. The advantage to the purchaser is that these items can be financed over a much longer period and at a much lower interest rate than if a separate financial instrument was used. For the builder or seller, these items serve as inducements used in financing the sale.
Popular Real Estate Terms
Valuation method for land or improvements to property. It takes into account gross rentals less operating expenses. ...
"Same as term bridge loan: Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. An ...
A lien is a legal instrument by which one party – usually lenders and creditors - guarantees the obligation of a real estate owner to do something – generally repays the money. ...
When two or more individuals simultaneously have rights in a property unit (e.g., apartment),. The individuals sharing the property have legal privileges and responsibilities to each other. ...
Offering of new securities of a real estate company to the investing public, after registration requirements have been filed with the SEC. the securities are usually made available to the ...
percentage relationship of a specific part of property to the whole property. An example is the square footage of one office to the square footage of all offices in an office building. ...
The endorser stipulates something such as that the transferee cannot use the funds for six months. ...
This situation applied in some states when death prevents the seller of property, who has signed a real estate sale agreement, from completing the sale. In this situation , equitable ...
An official indicating intensity of land use in a zoned urban area. ...
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