Home buyers and sellers real estate glossary entails with terms, one should know to make the real estate deal smoother and easier. Tyson Dirksen is an experienced real estate investment consultant, he signifies the potential importance of Glossary. Here are given info about some of these terms.
The agent acts on behalf of another person and represents his property and conditions.
ARM (Adjustable -Rate- Mortgage) has the interest rate as well as changeable payment.
APR (Annual percentage rate) it shows the standardized manner of showing the total amount.
Appraisal denotes the written form of market value in real estate.
Assumable loan refers to the term of assuming the responsibility for repaying the loan.
Assessment is an assigned value for your land property and it is used to find out real property tax.
a balloon mortgage is an interest rate and it stays for the less period.
Balloon payment delivers convenience to the lenders for making regular payments affordable.
The buyer’s agent represents the buyer’s real estate property and transaction. He delivers the best deal in your favor.
Cap reserve requirement of the lender possessed by the borrowers.
Closing is the delivery of disbursement of funds, signing of notes, and financial adjustments. It is also termed as the settlement.
The condominium is ownership that delivers exclusive title of buyer’s sake in a building that shares the title to the common area.
Contract of sales done between the buyers and sellers.
Credit Report is the written record of your credit history, it is important to get credit.
Down payment, the amount paid for closing the sale, and the remaining balance can be paid after the settlement.
ARM (Adjustable -Rate- Mortgage) has the interest rate as well as changeable payment.
APR (Annual percentage rate) it shows the standardized manner of showing the total amount.
Appraisal denotes the written form of market value in real estate.
Assumable loan refers to the term of assuming the responsibility for repaying the loan.
Assessment is an assigned value for your land property and it is used to find out real property tax.
a balloon mortgage is an interest rate and it stays for the less period.
Balloon payment delivers convenience to the lenders for making regular payments affordable.
The buyer’s agent represents the buyer’s real estate property and transaction. He delivers the best deal in your favor.
Cap reserve requirement of the lender possessed by the borrowers.
Closing is the delivery of disbursement of funds, signing of notes, and financial adjustments. It is also termed as the settlement.
The condominium is ownership that delivers exclusive title of buyer’s sake in a building that shares the title to the common area.
Contract of sales done between the buyers and sellers.
Credit Report is the written record of your credit history, it is important to get credit.
Down payment, the amount paid for closing the sale, and the remaining balance can be paid after the settlement.
These are few terms under the glossary of real estate business, these help both buyers and sellers to understand the importance of different terms.
