Real Estate Term of the Day: Encumbrance ENCUMBRANCE – any right to or interest in land that affects its value (Barron’s Dictionary of Real Estate Terms) A quick title search can show recorded encumbrances which can include: Outstanding mortgage loans Unpaid taxes HOA lien EASEMENTS DEED RESTRICTIONS – a clause in a deed that limits … More Real Estate Term of the Day: Encumbrance
Real Estate Term of the Day: Encroachment ENCROACHMENT – a building, a part of a building, or an obstruction that physically intrudes upon, overlaps, or trespasses upon the property of another (Barron’s Dictionary of Real Estate Terms) Encroachments can be found by a title search and/or land survey (in most cases an ILC – Improvement … More Real Estate Term of the Day: Encroachment
Real Estate Term of the Day: Deed DEED – a written document, properly signed and delivered, that conveys title to real property (Barron’s Dictionary of Real Estate Terms) There are 3 types of deeds that can be used to convey title: General Warranty Deed – one that contains a covenant that the grantor will protect … More Real Estate Term of the Day: Deed
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
LESLIE MONACO REAL ESTATE 