Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
|
market value
|
the highest price a company will bring on the market.
|
|
|
Equity
|
the difference between market value of its property and the amount owed on it.
|
|
|
points
|
Extra intrest that horrowers must pay at closing with each point being equal to one percent of a loan amount.
|
|
|
Closing cost
|
The expenses incurred in transferring ownership from buyer to seller in a real estate transaction.
|
|
|
MLS
|
A real estate marketing service in which agents from many real estate agencies pool their home listings and agree to share commisions on the sale.
|
|
|
offer
|
A formal document that expresses interest in entering into a contract with someone else.
|
|
|
Earnest money
|
A portion of the purchase price that the buyer deposits as evidence of good faith to show that the purchase offer is serious.
|
|
|
acceptance
|
A formal aggremnet to the terms of an offer, forming a contract between the parties.
|
|
|
counter-offer
|
An offer in response to another offer.
|
|
|
ARM
|
a mortgage for which the inerset rate changes in response to the movement of interest rates in the economy as a whole.
|
|
|
title
|
a legal document that establishes ownership
|
|
|
deed
|
a legal document that transfers title of a real property from one party to another.
|
|
|
lien
|
A financial claim on property.
|
