CAN YOU TELL ME WHAT THESE REAL ESTATE TERMS MEAN?
The gradual retirement of a debt by means of partial payments of the principal at regular intervals plus interest.
The process of estimating value.
Interest on the original principal and on interest accrued.
DATE OF CLOSING:
When the buyer delivers the balance of the money due and the seller delivers a deed. Legal title to the property passes from the seller to the buyer.
The written document that conveys title or an interest in property.
The right by one landowner over the land of another.
The difference between the market value of the property and the mortgage loans against property. i.e. the real value the owner has invested in his property.
A legal claim affecting property.
A charge against property for repayment of a debt.
The length of time for which the money is loaned.
The evidence that the owner of the land has lawful ownership.