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  • Someone who continues his or her education past the real estate agent level and successfully passes a state real estate license exam. A broker(...) Read More
  • A process reflecting the cycles of real estate market, including the recovery, expansion, hyper supply, and recession. The real estate market(...) Read More
  • REI stands for Real Estate Investing. REI involves the purchase, ownership, management, rental and/or sale of real estate for profit.(...) Read More
  • Pooled funds that purchase and hold real estate. Read More
  • Homes that banks or lenders have foreclosed on are real estate owned (REO), or bank-owned. In these situations, the banks or lenders own and can(...) Read More
  • An individual who provides services in buying and selling homes. The real estate professional is paid a percentage of the home sale price by the(...) Read More
  • A federal law that requires lenders to provide home mortgage borrowers with information about transaction-related costs prior to settlement, as(...) Read More
  • The real financing cost is a consumer-oriented rate that takes into account specific costs, fees, potential rate changes and the projected loan term Read More
  • Land and anything permanently affixed thereto – including buildings, fences, trees, and minerals. Read More
  • A copyrighted trade name that can be legally used only by those belonging to the National Association of Realtors. Read More
  • Steel reinforcing rod set in concrete that supports the foundation, footers, and walls. Read More
  • An electrical outlet. A typical household will have many 120 volt receptacles for plugging in lams and appliances and 240 volt receptacles for(...) Read More
  • A recessed panel door has a raised outer edge and the center panel sits back on a different or "recessed" plane. The recessed panel is often(...) Read More
  • Materials from a deconstructed building that are recycled for reuse for a new project. Read More
  • The aspects of a title that appear in the public records as distinguished from unrecorded title aspects and interests. Read More
  • The public official who keeps records of transactions that affect real property in the area. Sometimes known as a Registrar of Deeds or County Clerk. Read More
  • The filing of a lien or other legal documents in the appropriate public record. Read More
  • The charges made by the register of deeds to record the legal documents paid to a city, county, or other appropriate branch of government. Read More
  • A loan for which the borrower is personally liable for payment if the borrower defaults. Read More
  • Blueprints that reflect changes and that are marked with red pencil. Read More
  • A fitting with different size openings at either end and used to go from a larger to a smaller pipe. Read More
  • When referring to title insurance, the refinance rate is the reduced rate for a loan policy issued on the new loan in a refinance transaction,(...) Read More
  • The process of paying off one loan with the proceeds from a new loan secured by the same property (May include all the proceeds used to pay off(...) Read More
  • Sheet material with one or both faces covered with aluminum foil. Read More
  • A substance that remains a gas at low temperatures and pressure and can be used to transfer heat. Freon is an example and is used in air(...) Read More
  • Trim panels that match your cabinet finish are sometimes available to cover the front panel of your refrigerator. Only certain models of(...) Read More
  • A grill placed over a heating duct or cold air return. Read More
  • To replace a broken window. Read More
  • A mortgage loan made to cover the costs of repairing, improving, and sometimes acquiring an existing property. Read More
  • The strategy of purchasing a property in need of repairs, renovating it, then selling it at a profit. Fix and Flip loans, also known as rehab(...) Read More
  • Repairs and improvements to be completed on an investment property to prepare it for resale or make it tenant-ready. Read More
  • A mortgage loan made to cover the costs of repairing, improving, and sometimes acquiring an existing property. Read More
  • Concrete that is embedded with steel mesh or rebar to increase strength. Read More
  • When referring to title insurance, the reissue rate is the reduced rate for an Owner’s Policy of title insurance issued on a property that was(...) Read More
  • Used to cancel a lien that has already been filed. These are typically used to cancel the filed claim for public records. Read More
  • A device designed to open if it detects excess temperature or pressure. Read More
  • The original number of payments due on the loan minus the number of payments that have been made. Read More
  • Reversing or stopping environmental damage. Read More
  • Often confused with a renovation project €“ which refers to repairing and/or renewing a property to a better condition -- a home remodel(...) Read More
  • A remodeling contract is a thorough contract that includes all of the details and pricing of a project to avoid miscommunication between the(...) Read More

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