Underwriter

(1) You may think this role is one and the same as a home loan originator … but that’s actually a common misconception. The originator organizes all of the paperwork associated with providing a mortgage to borrowers. The underwriter reviews all of that paperwork to make sure everything is in order and that borrowers are truly […]

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Under contract

(1) A property that has an accepted real estate contract between seller and buyer. (2) Both the home seller and buyer have placed their John Hancocks on the dotted line: That’s when a home is officially under contract. There are still several steps that take place after this occurrence, but odds are if you and your […]

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Utilities

The private or public service facilities such as gas, electricity, telephone, water, and sewer that are provided by the government agencies as part of the development of the land.

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Under-Valuation

A value of the property that is lesser than the fair market value. Registration fee for a property is based on the value of the property in case of capital transaction or rent in case of rental transaction.

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Usury

The practice of charging more than the rate of interest allowed by law.

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