- Industry: Real estate
- Number of terms: 9847
- Number of blossaries: 0
- Company Profile:
Century 21 Real Estate LLC is a real estate agent franchise company founded in 1971. The Century 21 System consists of over 7,800 independently owned and operated offices. Century 21 has offices in all 50 states and in more than 67 countries and territories.
A method of foreclosing upon real estate property by means of a court supervised sale. After an appraisal, the court determines an upset price below which no bids to purchase will be accepted.
Industry:Real estate
A loan which is larger than the limits set by the FNMA and FHLMC (more than $207,000 as of 1/1/96). Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate.
Industry:Real estate
An extra charge, or penalty added to a regular mortgage payment when the payment is made late by an amount of time specified in the original loan document.
Industry:Real estate
Any defect in a piece of property which is not readily apparent, but which has an impact of the value. Structural damage or termite infestation would be examples of latent defects.
Industry:Real estate
A contract between the owner of real property, called the lessor, and another person referred to as the lessee, covering all conditions by which the lessee may occupy and use the property.
Industry:Real estate
A lease agreement that gives the tenant an option to buy the property. Usually, a portion of the regular monthly rent payment will be applied towards the down payment.
Industry:Real estate
A type of property ''ownership'' where the buyer actually has a long-term lease on the property.
Industry:Real estate
A description which is complete enough that an independent surveyor could locate and identify a specific piece of real estate property.
Industry:Real estate
The person or entity who loans funds to a buyer. In return, the lender will receive periodic payments, including principal and interest amounts.
Industry:Real estate
