Real Estate Term of the Day: Lender LENDER – general term applied to any party that originates or holds loans (Barron’s Dictionary of Real Estate Terms) Below are two great articles that can help you during the lender selection process: How to Shop for a Mortgage by MortgageNewsDaily.com “Every consumer shops for mortgages and they … More Real Estate Term of the Day: Lender
Real Estate Term of the Day: Legal Description & Lot and Block LEGAL DESCRIPTION – legally acceptable identification of real estate by one of the following: Metes and Bounds or recorded plat (Lot and Block Number) (Barron’s Dictionary of Real Estate Terms) LOT AND BLOCK NUMBER – a method of location a parcel of land (Barron’s … More Real Estate Term of the Day: Legal Description & Lot and Block
Real Estate Term of the Day: Lead-Based Paint LEAD-BASED PAINT – considered a hazardous material. It is potentially poisonous and its existence in property is to be disclosed to a buyer. Its presence is often difficult to determine because applications of lead-based paint may have been covered by more recent paint applications that are free … More Real Estate Term of the Day: Lead-Based Paint
Real Estate Term of the Day: Latent Defects LATENT DEFECTS – flaws that are hidden but are apt to surface later. (Barron’s Dictionary of Real Estate Terms) In a Colorado real estate transaction, a seller typically uses the Colorado Real Estate Commission approved Seller’s Property Disclosure to disclose material latent defects. The Seller’s Property Disclosure has 13 sections regarding … More Real Estate Term of the Day: Latent Defects
LESLIE MONACO REAL ESTATE 