- 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.
The means by which a property is exited. The right to got out. Contrast with Ingress.
Industry:Real estate
An official court decision. If the judgement requires payment from one party to another, the court may put a lien against the payee's property as collateral.
Industry:Real estate
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
