A statement the seller is required to provide that details the presence of any relevant information regarding a property, including the existence of lead paint or asbestos
These points are charged by the lender in order to reduce interest rates. One point is equivalent to one percent of the loan value.
Documentation Preparation Fees
The fees charged by a thirty party entity such as an escrow agent that covers the cost of preparing a maintaining the documents that are required in a business transaction
The portion of the value of the property the buyer pays for without the help of financing.
Due on Sale Clause
A security document that details the requirement of a loan to be paid in full if a property is sold or transferred to another party
A fee or something else of value provided at the purchase of the property in order to establish
A right, privilege, or advantage in real property that does not constitute full ownership. The right of the public or another person to use the lands of others in a certain manner.
The right to leave or enter a tract of land.
The legal right of a local or federal municipality to take possession of private property for public use.
Trespassing onto another
To place a lien or another charge on a property.
The difference between the value of a property and the amount still owed on the property.
A third party entity that handles all of the legal documents during a buying or selling transaction.
The charges required by a title company to service a transaction
The extant of a person
Estimated closing costs
In addition to the sale price, these costs estimate the remaining fees such as the loan, title, and appraisal fees.
Examination of title
An investigation launched by a title company that looks to outline the entire ownership of a property over time, including the transfers of titles between parties.
An agreement to use a particular broker for a transaction.
An agreement that gives an agent the exclusive right to market a property for a specific period of time.
An agreement whose terms of obligation have been satisfied by the participating parties. In real estate, an executed contract occurs at the time of closing, after payment and title transfer has occurred.
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