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Welcome > Resources > Real Estate Dictionary - A
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NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
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Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
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Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
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No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
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Notary |
An individual authorized by law to certify
documents and signatures |
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Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
Selling Your Home >Storage Priorities
No matter how much storage space a home provides, most people feel that it's never enough. Buyers typically place storage space high on their list of priorities for a new home. Sellers must often face the minor indignity of having prospective buyers open all of their closets to determine the size and capacity of each one.
Even an enormous closet looks small if it is cluttered. Your closets should be as organized as possible while your property is on the market. If you have excess belongings stuffed in your closets, hold a yard sale, rent a storage unit temporarily, or make a tax deductible donation to a local charity. When you finish cleaning and organizing all of your closets, move on to the other storage areas. Your home's storage spaces will look more impressive if they are neat and well-organized.
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| Q |
Why is the Terra Amata site in Nice, France famous?
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| A |
Remains of 21 huts found in 1965 are thought to be the oldest known habitation from the Acheulian culture 400,000 years ago.
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NUMBER1EXPERT®
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All rights reserved. All information deemed reliable but not guaranteed.
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