What Is A Buydown?
A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to lower the interest rate but usually raises the price of the house to recoup this loss.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
Initial offer to buy or sell answered with a revised offer. For example, a buyer offers $500,000 for a home put on the market. The owner rejects the offer but submits a counteroffer for ...
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to ...
Amount charged for each unit of rental property. An example of a unit might be square footage of space or an apartment. ...
Beams providing structural floor support. Flooring is directly attached to the floor joists. See also joist. ...
High quality, premium wood to be used in construction such as for home building. ...
A lessee (tenant) subleases the apartment to a third party .The tenant is now sandwiched between the lessor and the sublessee. In other words, the tenant is acting as a lessee to the ...
Secondary is something that is less important than or compared to something else. Secondary can also be a result of something or someone that is primary by definition. A secondary location ...
Availability of land in an urban area. ...
Release of a portion of a property from a mortgage. ...
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