Personal Financial Statement
Document showing the financial health of an individual that may be requested for a loan application to buy real estate. A Statement of Financial Condition present assets at estimated current values listed by order of liquidity and maturity. Business interest that represent a significant part of total assets should be presented separately from other investments. A statement of Changes in Net Worth is optional showing the major sources and uses of net worth. Comparative financial statements are also optional. footnote disclosures should be made of the following: individuals covered by the financial statements; major methods used in determining current value; nature of joint ownership of assets including real estate; face amount of life insurance owned; methods and assumptions used to compute estimated income taxes; maturities and interest rates relating to debt; and noncancellable commitments such as operating leases.
Popular Real Estate Terms
An apartment complex providing tenants access to a lawn area. ...
a rental in which the lessor pays all operating costs such as taxes, utilities, insurance, and maintenance. It is usually a short-term lease and a common arrangement. Typically there is no ...
Generally, a legal notice implies a method of official notification to an individual, organization, company, or the public that a particular event is about to occur. We can call a ...
Taxable profit or loss arising from a sale. It is reported in the income statement. ...
Listing of property that is open, meaning there is no one real estate agent who has the sole right to sell the property. ...
Right to peaceful enjoyment of property while the legal title is held by one person and the property is used by another. ...
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Same as term closing: legal process of transferring a piece of real estate to a buyer. Typically it occurs in the office of the lender, attorney, or an escrow company. ...
Style of architecture originating at the German Bauhaus, or architectural institute, in the 1920's associated with the International School of architecture. The Bauhaus style emphasized ...
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