Real Estate Term of the Day: Biweekly Loan BIWEEKLY LOAN – a mortgage which requires principal and interest payments at two-week intervals. The payment is exactly half of what a monthly payment would be. Over a year’s time, the 26 payments are equivalent to 13 monthly payments on a comparable mortgage loan. As a result, … More Real Estate Term of the Day: Biweekly Loan
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: Bi-Level BI-LEVEL – a house built on 2 levels in which the main entrance is situated above the lower level but below the upper level (Barron’s Dictionary of Real Estate Terms) Most bi-level homes feature the kitchen, dining room, formal living room, a guest bathroom and some bedrooms (some … More Real Estate Term of the Day: Bi-Level
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
LESLIE MONACO REAL ESTATE 