The fee charged by a broker or agent for negotiating a real estate or loan transaction. A commission is generally a small percentage of the price of the property or amount borrowed. Sometimes called points . An official notification to a borrower from a lender stating the terms under which it agrees to lend money to the borrower. Sometimes called a loan commitment .
Assessments are usually in addition to homeowners association dues.
Common areas may include swimming pools, tennis courts, and other recreational facilities, as well as common corridors of buildings and parking areas. The body of law based on general custom in England and used to a certain extent in the United States. Common law sometimes prevails unless superseded by other law. An alternative financing option that enables low to moderate-income homebuyers to purchase housing that has been improved by a nonprofit Community Land Trust and to lease the land on which the property stands. In some western and southwestern states, a form of ownership under which property accumulated through joint efforts of husband and wife is presumed to be owned equally by them unless acquired as separate property of either spouse.