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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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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
Real Estate Contracts >Understanding The Contract
When you are selling a home, the most important part of the transaction occurs after you have found a buyer. If your property is being marketed professionally, the real estate agent will put together the purchase offer and present it to you.
Each local Board of Realtors has standard contract forms which reflect the legal requirements of the jurisdiction in which you live. These contracts include the sales price, financing contingencies, completion deadlines, and other items that are required in order to meet local government requirements.
You may find that trying to sell your own home in order to save the brokerage fee is false economy. Real estate sales are complicated, and a slight variation in language can sometimes cost you a sale and/or a lot of money. Many of our listings came from sellers who thought their homes were sold, only to lose the buyers at the last minute--on a technicality!
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| Q |
What city boasts eight of the world's ten biggest hotels?
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| A |
Las Vegas has eight of the largest resort hotels; the latest and most extravagant is the $2.7 billion, 2,716-room Wynn Las Vegas. |
 See More Real Estate Trivia > |
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