Real Estate Acronym for Happy Holidays…

    Habitable Room that is fit for living in. the building in which the room is located conforms with the building code and has a certificate of occupancy. Usable for all purposes, but does not include facility rooms such as a bathroom, closets, or storage rooms.

    real estate agent is an individual who is licensed to negotiate and arrange real estate sales; works for a real estate broker. Negotiate and arrange can include showing property, listing property, filling in contracts, listing agreements, and purchase contracts.

    Real estate tax and property tax are the same thing. The IRS uses the term “real estate tax“, but most people call it “property tax“. Property (real estatetax is charged on immovable property—land and structures that are permanently attached to the ground such as a house, building, or land.

    Potential buyers will obtain a prequalification letter from a lender. This letter says the lender thinks you appear to be qualified for a loan up to a certain amount and is based on information you proviced on your assets, income, and expenses.

    Yard is the open , unoccupied space on the plot between the property line and the front, rear or side wall of building

    Home inspection is a non-invasive visual examination of a residential dwelling, performed for a fee, which is designed to identify observed material defects within specific components of said dwelling. dwelling.

    An open mortgage is a mortgage that permits repayment of the principal amount at any time, without penalty.

    A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner’s agent in the sale of the property.

    Independent Appraisal is an appraisal conducted by a qualified, disinterested person.

    Deposit is money offered by a prospective buyer as an indication of good faith entering into a contract to purchase; earnest money; security for the buyers, performance of a contract.

    Appraisal Report is A detailed evaluation a property’s value that is typically conducted by a professional.

    The yield to maturity (YTM), book yield or redemption yield of a bond or other fixed-interest security, such as gilts, is the (theoretical) internal rate of return(IRR, overall interest rate) earned by an investor who buys the bond today at the market price, assuming that the bond will be held until maturity, and that all coupon and principal payments will be made on schedule.

    Skylights are light transmitting fenestration (elements filling building envelope openings) forming all, or a portion of, the roof of a building’s space for daylighting purposes.

     

     

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