The government's official value of a property. A mortgage that has level monthly payments for a period of time but includes a big old lump sum payment usually at the end of the loans term. This person hires agents and supervises their activities. A provision in an Adjustable Rate Mortgage that limits the amounts that an interest rate or mortgage can increase or decrease. In the mortgage world, this is the maximum allowable interest rate an adjustable rate mortgage can have over the life of the loan.
Agents generally get a percentage of the price of the property.
This is short for comparable properties. This is used when appraising properties and stands for homes that have recently been sold that are similar in size, location and amenities to the house being considered for purchase. Comparables help the appraiser and the seller figure the approximate fair market value of a property. A building or real estate complex in which each unit owner has title to a unit in a building. A condition that must be met before a sale goes through.