Money
This happens when a person sells their property for less than the purchase price.
What is a Capital Loss?
This is the amount paid by the property buyer
What is Purchase Price?
This is the one who takes applications for loans and shops for different lenders.
What is a mortgage loan originator?
This type of brokerage specializes in selling properties such as malls, restaurants, and office space.
What is a commercial brokerage?
The buyer does not accept any personal legal responsibility for repayment of a debt. ( purchase arrangement by a seller)
What is Subject to?
This type of value varies depending on the individual.
What is investment value?
This term of appraisal principle says is when a pool costs 25k to build, but is only worth 15k to sell it
What is Principle of Contribution?
This is the main reason a lender would decide to reduce the interest rate on a loan temporarily.
What is to avoid Foreclosure?
This is used to help a seller with a realistic listing price.
What is a CMA?
In a listing presentation this is where would you include your experience and education.
What is your resume profile?
Borrower's payments are the Same and each month the principal loan balance is reduced
What is a fully amortized fixed rate loan,
This can happen when a lender has a deficiency judgment against a borrower
What is a foreclosure sale does not produce enough funds to pay the loan in full?
When the lender AGREES to take back the title from the buyer who is in default.
What is Deed in lieu of Foreclosure?
Banks use this to determine the value of an REO Property.
What is a BPO? ( BROKER'S PRICE OPINION)
Social media is this type of marketing.
What is pull marketing?
This term refers to why a property can not sell quickly.
What is illiquid?
A lis pendens has been filed. This is what officially happens.
What happens when the foreclosure process begins?
This accounting principle allows an investor to write off the cost of his income-producing investment.
What is tax depreciation?
This type of business structure offers name recognition.
What is a franchise?
This type of auction handles those involved with the enforcement of liens such as taxes, mortgages, income taxes.
What is a courthouse auction?
Lender determination of maximum loan amount.
What is LTV RATIO?
When purchased as an investment, it is considered the most illiquid, and Hung should sell.
What is unimproved land?
This protects borrowers by regulating advertising and requiring lender disclosures of actual loan costs.
What is Truth in Lending Act?
This type of real estate specialist handles the day management of a property for an absentee owner.
What is a ?Property Manager
This is the term refered to when and debit and expenses between two parties to the transaction are shown on a closing statement
What is a double entry?