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Welcome > Resources > Real Estate Dictionary - A
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Underwriting |
The process of analyzing a borrower's capability
to honor repayment of a loan (evaluating his or her credit, assets, employment)
along with the value of the property being purchased, to help minimize the risk
involved for the party lending the purchase money |
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Unilateral contract |
A one-sided contract in which only one party is
legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the
second part does comply, then the first party is obligated to honor the promise
made |
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Unsecured loan |
A loan that is not guaranteed by
collateral |
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Usury |
The act of charging more than the maximum rate
of interest permitted by law |
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Home Inspections >Buyer Protection
There are situations in which you as a homebuyer may be in need of protection: here is one example. You have finally found the home that is right for you, but you have some questions about the structure and condition of the home. A home inspection is the best place to get answers that will help protect your interests as a buyer. There are companies that specialize in inspecting new and used homes. Most sellers allow a reasonable amount of time to have the property inspected after the purchase agreement is agreed upon and prior to closing. It is wise to have a home inspection, even if the house is new or everything appears to be in perfect condition.
The inspector can provide important information about the house. Where are the gas and water shut-off valves? How do the circuit breakers operate? What type of routine maintenance should be done for each system? The inspector's fee is an investment that can save you money later!
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What is the highest altitude hotel in the world?
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The Hotel Everest View sits at the record altitude of 13,000 ft (3,964 m) above sea level, in the rarified atmosphere of Namche, Nepal, the village closest to the Mount Everest base camp.
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 See More Real Estate Trivia > |
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NUMBER1EXPERT®
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