All > Business > Real Estate
A radioactive gas found in some homes that, if occurring in strong enough concentrations, can cause health problems.
A toxic gas found in the soil beneath a house that can contribute to cancer and other illnesses.
- Browse Related Terms: Asbestos, Building Code, Finish, General Contractor, Historic Fabric, Manufactured home, Mobile home, Original appearance, radon
Also listed in:
- All > Healthcare > Medicine > Cancer
- All > Healthcare > Medicine > Cancer > Lung Cancer
- All > Science > Energy
All > Business > Real Estate
A horizontal sash member.
- Browse Related Terms: Casement, Details, Double hung, Frame, Glazing Bar, Gothic Sash, Meeting rail, operation, Parting strip, Rail, Sash, Segmental or Curved-Head Window, Tracery
Also listed in:
- All > Science > Weather > Climate Change
All > Business > Real Estate
A limit on an ARM on how much the interest rate or mortgage payment may change. Rate caps limit how much the interest rates can rise or fall on the adjustment dates and over the life of the loan.
See: cap.
The limit on the amount an interest rate on an ARM can increase or decrease during an adjustment period.
- Browse Related Terms: Adjustable-Rate Mortgage (ARM), annual cap, ARM, CAP, interest cap, Life Cap, life-of-loan cap, Lifetime Cap, Payment Cap, Rate Cap
All > Business > Real Estate
An agreement in which a lender "locks in" or guarantees an interest rate for a specified period of time prior to closing. See also "Lock-in"
A commitment by a lender to a borrower guaranteeing a specific interest rate over a period of time at a set cost.
- Browse Related Terms: Balloon Loan or Mortgage, Budget, certificate of deposit, commitment fee, Lock-In, Lock-in agreement, Lock-in Period, Lock-In Rate, Mortgage Note, Rate Lock, Yield
Also listed in:
All > Business > Real Estate
A contract that shows both you and the seller of the house have agreed to your offer. This offer may include sales contingencies, such as obtaining a mortgage of a certain type and rate, getting an acceptable inspection, making repairs, closing by a certain date, etc.
- Browse Related Terms: As-is Condition, Back to Back Escrow, Concession, Contingency, Counter Offer, Deposit (Earnest Money), derivative, Earnest Money Deposit, escape clause, Homeowner's Warranty (HOW), Purchase and Sale Agreement, Purchase Offer, Ratified Sales Contract, Rehabilitation, Right of First Refusal, walk-through, Walkthrough
All > Business > Real Estate
A term that is generally synonymous with real property. See also "property."
- Browse Related Terms: Appraised Value, Appreciation, Cloud On The Title, Comparables, Comparative Market Analysis (COMPS), Depreciation, Encroachment, Eviction, Fire insurance, Grantee, Grantor, income approach to value, Loan-to-value ratio (LTV), Real Estate, Real estate tax, Secured Loan, security, Single-Family Properties, Soft Second Loan, Termite Inspection
Also listed in:
- All > Business > Finance > Personal Finance
All > Business > Real Estate
An individual who is licensed to negotiate and arrange real estate sales; works for a real estate broker.
- Browse Related Terms: American Society of Home Inspectors, Broker, Closing Date, Commission, Exclusive Listing, FSBO (For Sale by Owner), key lot, Listing Agreement, Multiple Listing Service (MLS), Open House, Real Estate Agent, Real Estate Professional, REALTOR®, Savings and loan association (S&L), Take out loan, Trade Equity, Transfer Taxes
All > Business > Real Estate
A real estate trust which sells shares of ownership and must invest in real estate or mortgages. If it meets certain requirements, it is exempt from corporate income tax. It distributes a minimum of 95 percent of its income to its shareholders.
- Browse Related Terms: Blanket mortgage, Investment trust, Lender, Mortgagor, Real Estate Investment Trust (R.E.I.T.), Tax credit, Tax depreciation, Tax relief, Title Company
All > Business > Real Estate
A security representing an interest in a trust having multiple classes of securities. The securities of each class entitle investors to cash payments structured differently from the payments on the underlying mortgages.
- Browse Related Terms: bond, Callable Debt, Debt security, Deferred payments, Duration, Guaranty Fee, Medium Term Notes, Mortgage-Backed Security (MBS), Real Estate Mortgage Investment Conduit (REMIC), Stripped MBS (SMBS)
All > Business > Real Estate
An individual who provides services in buying and selling homes. The real estate professional is paid a percentage of the home sale price by the seller. Unless you've specifically contracted with a buyer's agent, the real estate professional represents the interest of the seller. Real estate professionals may be able to refer you to local lenders or mortgage brokers, but are generally not involved in the lending process.
- Browse Related Terms: American Society of Home Inspectors, Broker, Closing Date, Commission, Exclusive Listing, FSBO (For Sale by Owner), key lot, Listing Agreement, Multiple Listing Service (MLS), Open House, Real Estate Agent, Real Estate Professional, REALTOR®, Savings and loan association (S&L), Take out loan, Trade Equity, Transfer Taxes
All > Business > Real Estate
A tax deductible expense reducing a taxpayer's taxable income.
- Browse Related Terms: Before-Tax Income, Delayed exchange, Front End Ratio, Homestead Credit, Income tax credit, Low-income housing, Mortgage Interest Deduction, Property Tax Deduction, Property tax relief, Real Estate Property Tax Deduction, tax savings
All > Business > Real Estate
A federal law that requires lenders to provide home mortgage borrowers with information about transaction-related costs prior to settlement, as well as information during the life of the loan regarding servicing and escrow accounts. RESPA also, prohibits kickbacks and unearned fees in the mortgage loan business.
A law protecting consumers from abuses during the residential real estate purchase and loan process by requiring lenders to disclose all settlement costs, practices, and relationships
- Browse Related Terms: assets, Closing, Closing (or settlement) costs, Closing Agent, Closing Costs, Closing Statement, Consideration, Escrow, Good faith estimate, HUD1 Statement, No Cost Loan, Punch List, Real Estate Settlement Procedures Act (RESPA), RESPA, Settlement, Settlement Statement, Uniform Settlement Statement
Also listed in:
All > Business > Real Estate
Same or similar to "property tax." See also "property tax."
- Browse Related Terms: Appraised Value, Appreciation, Cloud On The Title, Comparables, Comparative Market Analysis (COMPS), Depreciation, Encroachment, Eviction, Fire insurance, Grantee, Grantor, income approach to value, Loan-to-value ratio (LTV), Real Estate, Real estate tax, Secured Loan, security, Single-Family Properties, Soft Second Loan, Termite Inspection
All > Business > Real Estate
Land, including all the natural resources and permanent buildings on it.
Land and anything permanently affixed thereto â including buildings, fences, trees, and minerals.
Also listed in:
- All > Business > Finance > Insurance > Homeowners Insurance
- All > Business > Finance > Personal Finance
- All > Business > Finance > Personal Finance > Mortgage
- All > Law > Common Legal Terms
All > Business > Real Estate
A real estate agent or broker who is a member of the NATIONAL ASSOCIATION OF REALTORS, and its local and state associations.
- Browse Related Terms: American Society of Home Inspectors, Broker, Closing Date, Commission, Exclusive Listing, FSBO (For Sale by Owner), key lot, Listing Agreement, Multiple Listing Service (MLS), Open House, Real Estate Agent, Real Estate Professional, REALTOR®, Savings and loan association (S&L), Take out loan, Trade Equity, Transfer Taxes
All > Business > Real Estate > Superfund
The Record of Decision (ROD) is a public document that explains which cleanup alternatives will be used to clean up a Superfund site. The ROD for sites listed on the NPL is created from information generated during the RI/FS.
Also listed in:
- All > Science > Energy > Renewable Energy
- All > Science > Energy > Renewable Energy > Solar Energy
All > Business > Real Estate
The public official who keeps records of transactions that affect real property in the area. Sometimes known as a "Registrar of Deeds" or "County Clerk."
The public official who keeps records of transactions concerning real property. Sometimes known as a "Registrar of Deeds" or "County Clerk."
- Browse Related Terms: Abstract of title, Assignment of Mortgage, Chain of Title, Deed, Deed of trust, Document Recording, Mortgage holder, Notary Public, Ownership, Public Record Information, Quitclaim Deed, Recorder, Recording, Recording Fees, Title, Transfer of Ownership, trust deed
Also listed in:
All > Business > Real Estate
The filing of a lien or other legal documents in the appropriate public record.
The recording in a registrar's office of an executed legal document. These include deeds, mortgages, satisfaction of a mortgage, or an extension of a mortgage making it a part of the public record.
- Browse Related Terms: Abstract of title, Assignment of Mortgage, Chain of Title, Deed, Deed of trust, Document Recording, Mortgage holder, Notary Public, Ownership, Public Record Information, Quitclaim Deed, Recorder, Recording, Recording Fees, Title, Transfer of Ownership, trust deed
All > Business > Real Estate
Charges for recording a deed with the appropriate government agency.
- Browse Related Terms: Abstract of title, Assignment of Mortgage, Chain of Title, Deed, Deed of trust, Document Recording, Mortgage holder, Notary Public, Ownership, Public Record Information, Quitclaim Deed, Recorder, Recording, Recording Fees, Title, Transfer of Ownership, trust deed
Also listed in:
All > Business > Real Estate
Getting a new mortgage with all or some portion of the proceeds used to pay off the original mortgage.
- Browse Related Terms: discount points, Gift Letter, Home Equity Line of Credit, Outstanding balance, Pre-Approval Letter, Pre-Qualification Letter, Price Range, Refinance, Shared equity mortgage, Stockholders' Equity
Also listed in:
- All > Business > Finance > Personal Finance > Consumer Credit
- All > Business > Finance > Personal Finance > Mortgage