REAL ESTATE TERMS
Real estate cannot be stolen or lost, nor can it be carried away.
It is about the safest investment in the world. Money can fail, economies fail, stock market fail, your land cannot fail you.
Little wonder it is referred to as the only estate that is real.

After the war, it is there, after Corona, it will still be there, governments, nations change currency yet no one has changed land.
Land monopoly is the greatest of all monopolies.
It is a comfortable feeling to know that you stand on your own land.

NOW, SOME REAL ESTATE TERMS
1. MORTGAGE: This is money owed to the bank or loan gotten from the bank to buy a property from the bank with time.
2. EQUITY: This is the difference between the current worth of a property and mortgage. It is also the net worth of a business
3. CASH FLOW : It's the difference between mortgage and the rent collected from a tenant
4. DOWN PAYMENT: This is a money paid to the bank to show an interest in a deal. Hence it is part payment of interest from mortgate received from the bank.
5. INTEREST: This is the cost of borrowing money for a home.
6. LISTING: This is forcasting a home that for sale either on a website or publication
7. MORTGAGE BROKER: This is an individual or company that is responsible for taking care of all aspects of the deal between borrowers and lenders, whether that be originating the loan or placing it with a funding source such as a bank. He acts as a middle man between lending institutions and the borrower
8. NO CASH OUT RE-FINANCE: This is a type of loan used to improve the rate the borrower pays on the loan. It might also shorten the lifetime of a loan to benefit the borrower.
9. NOTE RATE: The note rate is the interest rate stated on a mortgage note.
10. ORIGINATION FEE: This is free fee a borrower pays a lender to cover the costs of processing their loan application
11. FORECLOSURE: This is a legal process during which the owner forfeits all property rights if he doesn’t make a mortgage payment/pay off his outstanding debt within a given time frame on the property or sell it via short sale. The property enters a foreclosure auction. If no sale is made there, the lender takes control of the property.
12. HOME INSPECTION: This is carried out by an objective third party to establish the condition of a property during a real estate transaction. An inspector will report on such things as a home’s heating system, the stability of the foundation, and the condition of the roof. The inspection is meant to identify major issues that might affect the value of the home and the stability of your and your lender’s investment and return.
13. DEED: This is the legal documents that facilitate the transfer of a title from one party to another (seller to the buyer of their home). To make the deed and, therefore, the transfer of property legally binding, it needs to be approved by a judge or at an assessor’s office, depending on local housing regulations.
14. DEED-IN-LIEU OF FORECLOSURE: A deed-in-lieu of foreclosure is a document transferring the title of a property from a homeowner to the bank that holds the mortgage. A homeowner might submit a deed-in-lieu of foreclosure if the bank has denied them a loan modification or short sale
15. ENCROACHMENT: This is when a property owner violates the rights of a neighbour by building or adding on to a structure that extends onto a neighbor’s land or property line.
16. FEE SIMPLE: This is a property ownership title that assures that the owner’s rights to the property are indefinite and can be freely transferred or inherited when the owner chooses. It is most often associated with single family homes, as condominiums and townhomes are purchased with covenants, conditions, and restrictions.
17. RENTAL: This is the payment made by a tenant. A form of cashflow transaction between the Tenant and Lordlord who is still holding on to the property
18. FLIP: This is to buy a property to later sell it to make profit
19. ASSIGNMENT: This is the giving of a property ownership and responsibilities to another.
20. APPRAISAL: This is an individual who gives accurate value and expect insight of a real estate worth. Such values are gotten from the combined statistics of the home itself, the local neighborhood and, the entire local/regional market. This also aids when getting a loan from the bank
21. ASSESSMENT: This is the market value attached to a property under normal conditions. This is assigned by a real estate appraiser.
22. CONTINGENCIES: This is a conditions that have to be met in order for the purchase of a home to be finalized. For example, there may be contingencies that the loan must be approved or the appraised value must be near the final sale price.
23. AMORITIZATION : This is the process of combining both interest and principal in payments, rather than simply paying off interest at the start. This allows you to build more equity in the home early on.
24. BUYER’S AGENT: This is the agent who represents the buyer in the home-buying process. On the other side is the listing agent, who represents the seller.
25. HOME WARRANTY: This is a warranty that protects from future problems to things such as plumbing and heating, which can be extremely expensive to fix.
26. ESCROW: This is an account that the lender sets up that receives monthly payments from the buyer.
27. COMMISSION: This is the money an individual is owed at the very end of deals he closes. As noted, this commission comes from the listing/selling agent’s brokerage
28. DELIQUENCY: This is when a scheduled mortgage payment is not made. If a payment is more than 30 days late, a lender might begin collection or foreclosure proceedings.
29. EASEMENT: This is a title that grants someone else the legal right to use another person’s land or property while leaving the title in the owner's name.