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REAL ESTATE TERMS - A
 

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Also see:  Commercial Real Estate Terms

Abstract of title   A history of ownership of a property and any documents that affect the title during that ownership.

Acceptance of sale/sales contract   An offer of purchase that has been signed by both buyer and seller. A firm contract that outlines all details of the property transaction.

Adjustable Rate Mortgage (ARM)   A loan with an interest rate that fluctuates according to the movements of a predetermined index.

Agent or Sales Associate   A person licensed by the state to sell real estate through a real estate broker.

Amortization   The paying off of a debt such as a mortgage in periodic installments for the term of the loan.

Appraisal   An opinion by a licensed real estate appraiser about the fair market value of a home.

Appreciation   The increase in value of a home

Assumable loan   An existing mortgage that can be taken over by the buyer -- usually on the same terms given to the original buyer.

Assumption   Taking over responsibility for payments on a mortgage and meeting any of the other requirements. Typically, a buyer assumes a mortgage from the seller.

Use the Search Box to find Real Estate Terms

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | Y | Z

Also see:  Commercial Real Estate Terms

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