Asbestos A fire-resistant mineral used for insulation and home products that has been found to pose a health hazard. Professional association of independent home inspectors whose members must meet the group's education and performance requirements. A seller's initial price for a property. A tax assessor's determination of the value of a home in order to calculate a tax base. The estimated value of a piece of real estate or a levy placed on property in addition to taxes.
Assessment rolls A list of taxable property compiled by the assessor.
Assets Items of value which include cash, real estate, securities and investments. Assignor A person who transfers rights and interests of a property. Assumable mortgage A mortgage that can be transferred to another borrower. A provision that allows a buyer to take responsibility for the mortgage from a seller. A fee the lender charges to process new records for a buyer who assumes an existing loan.