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
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Window having both screens and storm windows that can be easily interchanged according to seasonal needs. ...
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Records maintained as evidence of ownership of the home and any of its contents. ...
The age at which one is legally capable of entering into binding contracts, signing a deed and negotiating business agreements. In most states this is the age of majority. Normally this is ...
Something that is hidden or overlooked and may be realized at a later time. For example, an individual's name is improperly spelled on a title deed, and the oversight is not noticed until ...
Property boundary demarcated by the curb. ...
A method widely used for evaluating real estate projects. Under the net present value method, the present value (PV) of all cash inflows from the project is compared against the initial ...
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