Real Estate Term of the Day: Bill of Sale BILL OF SALE – a written instrument given to pass tile of personal property from a seller to a buyer (Barron’s Dictionary of Real Estate Terms) Common items on a bill of sale are: Kitchen appliances if included such as: refrigerator, dishwasher, stove/oven, microwave, cooktop Washer … More Real Estate Term of the Day: Bill of Sale
Real Estate Term of the Day: Backup Contract BACKUP CONTRACT – a contract to buy real estate that becomes effective if a prior contract fails to be consummated (Barron’s Dictionary of Real Estate Terms) In a buyer’s market, we don’t see as many backup contracts placed on homes. There are, however, times when we will … More Real Estate Term of the Day: Backup Contract
Real Estate Term of the Day: Back-End Ratio & Front-End Ratio (aka Debt to Income Ratios or DTI) BACK-END RATIO – one of several criteria used to qualify homebuyers or owners for mortgage loans. The back-end ratio takes into account existing long-term debt of the loan applicant (Barron’s Dictionary of Real Estate Terms) Common debts … More Real Estate Term of the Day: Back-End Ratio & Front-End Ratio
Real Estate Term of the Day: Attached Housing ATTACHED HOUSING (aka: Attached Single Family) – dwelling units that are attached to each other on at least one side, possibly divided from one another by a firewall or other physical partition. Contrast with detached housing (Barron’s Dictionary of Real Estate Terms) The two most common types … More Real Estate Term of the Day: Attached Housing
LESLIE MONACO REAL ESTATE 