Qualifying
Definition of "Qualifying"
- Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the financial ability to purchase the property and be eligible to obtain a mortgage.
- In insurance, a period of time during which an individual is eligible to receive benefits until it is determined whether or not fraud or other misrepresentation has occurred. A qualification period is found most frequently in health insurance and pension plans.
Popular Real Estate Terms
Same as term appraisal: Valuation assessment of real property by an expert third party for the following purposes: developing a realistic market price. setting a market value at the time ...
The modified accrual method is defined as an alternative accounting method that combines the two basic methods of accounting, the accrual method and the cash method. While the accrual ...
Representative house, apartment, or cooperative used as a sales tool to show how the actual unit bought will probably appear in design and construction. An example is a model apartment. ...
Expert in real estate who has an education in real estate appraisal as well as having significant professional experience. A recognized license may be obtained from the Member Appraisal ...
Transfer of both real and personal property. An example is the sale of a home with personal belongings. Putting together a group of property to be sold together, perhaps at a discount ...
Local regulation on how real property may be used in a particular locality. The county may establish different zoning classifications and restrictions. If the ordinance is violated, ...
Property having an easement right through another adjoining property. The property through which the easement passes is considered to have the servant tenement. ...
(1) That portion of exposed beach formed by waves depositing sand as they dissipate on the beach. The size of the berm commonly varies with the season. In the summer, the waves move sand ...
fee to use a bridge or tunnel. Fee assessed to use someone else's property. ...
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