Real Estate Term of the Day: Covenant COVENANT – promise written into deeds and other instruments agreeing to performance or nonperformance of certain acts, or requiring or preventing certain uses of the property (Barron’s Dictionary of Real Estate Terms) Common items found in a neighborhood’s convents (typically enforced by an HOA) may include: rules regarding … More Real Estate Term of the Day: Covenant
Real Estate Term of the Day: Counteroffer COUNTEROFFER – rejection of an offer to buy or sell, with a simultaneous substitute offer (Barron’s Dictionary of Real Estate Terms) I’ve submitted my offer to the seller, now what? If the seller signs your initial offer before the Acceptance Deadline, the offer becomes a firm contract for … More Real Estate Term of the Day: Counteroffer
Real Estate Term of the Day: Conveyance CONVEYANCE – the transfer of the title of real estate from one to another; the means or medium be which title of real estate is transferred (Barron’s Dictionary of Real Estate Terms) A warranty deed is most often used as a conveyance of ownership at the closing in the … More Real Estate Term of the Day: Conveyance
Real Estate Term of the Day: Conventional Loan CONVENTIONAL LOAN – a private mortgage loan not guaranteed but the VA or insured by the FHA (Barron’s Dictionary of Real Estate Terms) Conventional loans generally require a higher down payment of at least 5% while FHA requires only 3.5% and VA doesn’t require a down payment … More Real Estate Term of the Day: Conventional Loan
LESLIE MONACO REAL ESTATE 