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
Part of a capital gain constituting tax benefits previously taken and taxed as ordinary income. ...
The right to deviate from the use of land prescribed by an existing zoning ordinance. ...
The slope of surface inclination normally expressed as a percentage. The gradient is determined by dividing the surface change by the length of the surface ...
Right of property owner to have his or her property used in satisfying a loan. Written contract of court judgment placing a lien on a parcel of property as collateral for a loan. An ...
When you sign a Listing Agreement with a real estate broker or agent, he or she has a fiduciary responsibility to represent your interests exclusively. However, should another client ...
Rent that a comparable property would mandate in a given real estate rental market. Market rent is a competitive rate based on rents other comparable properties receive. For example, in a ...
Insurance coverage for any risk that can cause physical damage to the insured item. ...
The Department of Veterans Affairs (VA), formerly known as Veterans Administration, issues the Certificate of Reasonable Value (CRV), an appraisal, determining the highest value and loan ...
The term’s abstract of title definition is the recorded summary of a property’s history. Abstracts of title can be used to determine former and present ownerships of any ...
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