During the VA loan process, lenders require veterans to show proof they’ve met the minimum service requirement to qualify for a VA loan.
A cash-out refinance, also known as a cash-out refi, is when a homeowner refinances their mortgage for more than it’s worth and withdraws the difference in cash. To be eligible for this kind financing, a borrower usually needs at least 20% in equity.
A call option is a contract giving one party the right to buy and another party the right to sell a piece of property at a future time and specific price.
The visual impact a property projects from the street.
The company with whom the third-party relocation company has an agreement to handle the relocating employees.
Where the shareholders of the corporation are the inhabitants of the building. Each shareholder has the right to lease a specific unit. The difference between a co-op and a condo is in a co-op, one owns shares in a corporation; in a condo one owns the unit fee simple.
When a property is under contract with contingencies, but the seller requests that the property continue to be shown to prospective buyers until contingencies are released.
A provision in a contract requiring certain acts to be completed before the contract is binding. f a property is contingent, or the contract contains a contingency, certain events must transpire or the contract can be considered null. A contingency might be that the home must past an appraisal or receive a clean inspection. The sale […]
Rules of a condominium association by which owners agree to abide.
A person or an association that has the first opportunity to purchase condominium real estate when it becomes available or the right to meet any other offer.