|
Certified Residential
Specialists
Travel and Vacation Destinations
Search for travel and vacation destinations based on your selectioncriteria. Search thousands of cities in most countries.
Find Out More >
View All Offers >
|
"Shelton and Glenna are experts in their field"
" They know the neighborhoods, schools, builders, floor plans, and all-around house designs!"
Michael and DaLonna Rimsky, Bossier City, La.
Read Quote >
View All Quotes >
|
Glenna Nesbitt and Shelton Floyd
are some of The Top Selling Real Estate Experts™
Find Out More > |
|
|
|
|
 |
|
 |
|
Welcome > Resources > Real Estate Dictionary - A
A B
C D
E F
G H
I J
K L
M N
O P
Q R
S T
U V
W X
Y Z
N
|
NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
|
Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
|
Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
|
Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
|
No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
|
Notary |
An individual authorized by law to certify
documents and signatures |
|
Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
A B
C D
E F
G H
I J
K L
M N
O P
Q R
S T
U V
W X
Y Z
Did We Miss the Word YOU Are Looking For?
Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Fill out the form below for a quick response from us by email. It's free, without obligation, and we guarantee your privacy.
Closing or Settlement >Closing Dates
The final closing date is an important item in the negotiation of the purchase agreement on a home. This is the day when the buyers get their ownership papers and the sellers get their money. It is important to remember that most standard contracts don't pinpoint a specific date, and closings can be delayed due to factors beyond the buyer's control.
The closing will usually be set as soon as the title search and lender's paperwork can be completed. However, any number of factors can interfere with the closing schedule. For example, questions can arise about liens against the property that were paid, but not properly recorded. Items in the buyers credit history may have to be cleared up. These situations rarely cause the transaction to fall apart, but they can wreak havoc with your moving schedule. Your real estate agent will keep you up to date on the progress of your closing in order to avoid delays and minimize any inconvenience.
|
|
| Q |
Where are the highest median price homes in the United States currently located?
|
| A |
According to the NAR, the highest median price in the second quarter of 2005 was $726,900 for homes in California's San Francisco Bay area. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
|
 |
|
 |
|
- NUMBER1EXPERT 
