A contract signed by the buyer and seller that details the terms of a home purchase.
Another loan placed upon a piece of property.
A market of packaged home loans that are resold as securities to investors. Major players are Fannie Mae and Freddie Mac.
An agreement in which the seller provides financing for a home purchase.
An agreement in which the seller provides financing for a home purchase.
A hot real estate market in which sellers have the advantage and multiple offers are common.
A self-contained sewage treatment system that distributes wastewater to an underground storage area and relies on bacterial action to decompose solid waste matter.
The minimum distance a house or buildings must be from the lot line.
A document that details who has paid what to whom.
When a homeowners' association needs or wants extra funds, it levies a special assessment upon the owners.
Specific Performance
When the party is required to do what was promised.
The number of square feet of livable space in a home or building.
Homes that fall within the lower price range of a typical first-time buyer.
A construction method used by commercial and residential builders.
Subdivision
Land that is divided into two or more parcels.
Supersede
To take the place of or replace.
A precise measurement of a piece of property by a licensed surveyor.
