Category: E

EARNEST MONEY AGREEMENT RETOTD Episode 00212

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EARNEST MONEY AGREEMENT A document that lists the price, conditions and terms under which the buyer is willing to purchase the property. (Each of these means the same thing: offer to purchase, or purchase offer, or earnest money agreement, or…

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ESCROW ACCOUNT RETOTD Episode 00193

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ESCROW ACCOUNT An account setup by a mortgage servicing company to hold funds with which to pay expenses such as homeowners insurance and property taxes. An extra amount is paid with regular principal and interest payments that go into the…

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EQUITY RETOTD Episode 00192

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EQUITY The residual value of a property beyond mortgage or liability. The value of real property in excess of debt. The interest or value that an owner has in real estate over and above the mortgage and other liens against…

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ENCUMBRANCE RETOTD Episode 00120

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ENCUMBRANCE A right to, or interest in, real property held by someone other than the owner that does not prevent the transfer of fee title. Any lien, such as a mortgage, tax lien, or judgment lien; also, an easement, a…

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EFFECTIVE DATE RETOTD Episode 00062

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EFFECTIVE DATE The date on which a registration statement becomes effective and the sale of securities can commence.In real estate the effective date is the date the last individual signs and/or initials and dates the contract.

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