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Welcome > Resources > Real Estate Dictionary - A
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Underwriting |
The process of analyzing a borrower's capability
to honor repayment of a loan (evaluating his or her credit, assets, employment)
along with the value of the property being purchased, to help minimize the risk
involved for the party lending the purchase money |
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Unilateral contract |
A one-sided contract in which only one party is
legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the
second part does comply, then the first party is obligated to honor the promise
made |
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Unsecured loan |
A loan that is not guaranteed by
collateral |
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Usury |
The act of charging more than the maximum rate
of interest permitted by law |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'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 me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
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About Appraisals >The Language of Real Estate Agents
Technical terms can be confusing to people who do not work in a profession, and real estate agents use language that may be confusing to many home buyers and sellers.
If you find your eyes glazing over when your real estate agent starts talking about escrow, clear title, easements, encroachments, contingencies, financing, appraisals and the closing process, don't hesitate to ask for a translation. Buying or selling a home is a major step, and professional real estate agents are totally committed to helping you understand the process thoroughly so that you can make informed decisions.
The simple transaction of trading the sellers' house for the buyers' money has become complicated by several hundred years of custom, common law, and state and local government requirements. Consumer demands have resulted in up-to-date rules that communication be as clear and understandable as possible. Real estate agents work to create an atmosphere in which you feel comfortable to ask questions.
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| Q |
What Hollywood star made the first footprint outside Grauman's Chinese Theater?
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| A |
Norma Talmadge accidentally stepped in wet concrete outside the building in 1927. |
 See More Real Estate Trivia > |
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NUMBER1EXPERT®
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