Feedback

The real estate sales agent and/or his or her client’s reaction to a listing or property. Requested by the listing agent.

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Fax rider

A document that treats facsimile transmission as the same legal effect as the original document.

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Forfeiture

The loss of property or a privilege due to breaking a law. For example, a landlord may forfeit his or her property to the federal or state government if the landlord knows it is a drug-dealing site but fails to stop the illegal activity. Likewise, a homeowner may lose his house to satisfy IRS debts […]

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Flood Plain

Flood plains are by definition subject to periodic flooding. They are generally characterized by relatively flat topography and soil types that were laid down during past inundations by flood waters. If your property is in the 100-year flood plain, there is a 1-in-100 chance in any given year that your property will flood. If it […]

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Flood Insurance

A special and separate type of homeowner’s insurance the provides coverage for damages resulting from flooding. Flood insurance is required by most lenders only if the property is located within a designated flood plain. The cost of the policy is related to the associated flooding risk. If a property has a small section of land […]

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Fannie Mae

(1) Created by Congress in 1938 to bolster the housing industry during the Depression, Fannie Mae was originally part of the Federal Housing Administration (FHA) and authorized to buy only FHA-insured loans to replenish lenders’ supply of money. In 1968, Fannie Mae became a private company operating with private capital on a self-sustaining basis. Its […]

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Flexi Payment Plan

Flexi-plan gives buyer the flexibility to pay the price of a property over a time period but the payments are time linked rather than construction linked.

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Flex Space

A building providing its occupants the flexibility of utilizing the space. Usually flex space provides a configuration allowing a flexible amount of office or showroom space in combination with manufacturing, laboratory etc.

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