|
| Kansas City Real Estate Agent |
|
Menu
|
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
MARKET VALUE The highest price, estimated in terms of money, which a property will bring if exposed for sale in the open market, allowing a reasonable time to find a purchaser who buys with knowledge of all the uses to which the property is adapted and for which it is capable of being used. HUD-1 UNIFORM SETTLEMENT STATEMENT A standard form which itemizes the closing costs associated with purchasing a home or refinancing a loan. FIXTURE An article which was once personal property but has been so affixed to the real estate that it has become real property (e.g. stoves, bookcases, plumbing, etc.). If determined to be a fixture, then the article passes with the property even though it is not mentioned in the deed. FLOOD INSURANCE Insurance that compensates for physical damage to a property by flood. Typically not covered under standard hazard insurance. FISCAL YEAR A business year used for tax, corporate or accounting purposes, as opposed to a calendar year. MORTGAGEE The one who receives and holds a mortgage as security for a debt; the lender; a lender or creditor who holds a mortgage as security for payment of an obligation. LANDLOCKED Real property having no access to a public road or way. LAW DAY The date an obligation becomes due; sometimes refers to the closing date. TAX IMPOUND Money paid to and held by a lender for annual tax payments. |
Copyright © 2004-2005 | www.WeWillBuyYourHouseFast.com | Privacy Policy |