Real Estate Term of the Day: Declaration DECLARATION (aka: declaration of the CCRs) – a legal document used to create a condominium or community association. Includes a description of the property/community and the uses to which is restricted, a description of individual ownership units, common areas, and procedures for amending the declaration (Barron’s Dictionary of … More Real Estate Term of the Day: Declaration
Real Estate Term of the Day: Debit & Credit DEBIT – in a closing statement, an item that is charged to a party in contrast with a credit (Barron’s Dictionary of Real Estate Terms) Typical debits for a buyer include: Purchase price Tax escrow Insurance escrow Title closing fee Deed recording fees Appraisal fee Tax … More Real Estate Term of the Day: Debit & Credit
CAP CERTIFICATE OF OCCUPANCY CLEAR TITLE CLOSING CLOSING AGENT CLOSING COST CLOSING DATE CLOSING STATEMENT CLOUD ON THE TITLE CLUSTER HOUSING CODE OF ETHICS COMMISSION COMMITMENT LETTER COMMON AREAS COMMUNITY ASSOCIATION CO-MORTGAGOR COMPARABLE SALES COMPARATIVE MARKET ANALYSIS CONCESSIONS CONDITIONS CONDITIONAL OFFER CONDITIONS, COVENANTS & RESTRICTIONS CONDOMINIUM CONFORMING LOAN CONTRACT FOR PURCHASE CONVENTIONAL LOAN CONVEYANCE COUNTEROFFER … More Real Estate Term of The Day: Recap of the “C” Terms
Real Estate Term of the Day: Custom Builder & Production Builder CUSTOM BUILDER – one who builds unique houses, in contract with a tract builder (Barron’s Dictionary of Real Estate Terms) There are two types of custom home builders (source: REBAC Buyer Representation in New-Home Sales): Pure custom home builders – Works from unique architectural … More Real Estate Term of the Day: Custom Builder & Production Builder
LESLIE MONACO REAL ESTATE 