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Seller financing is a loan provided by the seller of a property or business to the purchaser. When used in the context of residential real estate, it is also called " bond-for-title " or " owner financing." [1] Usually, the purchaser will make some sort of down payment to the seller, and then make installment payments (usually on a monthly ...
A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental ...
Land contract. A land contract, (also known as contract for deed or agreement for deed ), is a contract between the buyer and seller of real property in which the seller provides the buyer financing in the purchase, and the buyer repays the resulting loan in installments. Under a land contract, the seller retains the legal title to the property ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Marketable title. Marketable title (real estate) is a title that a court of equity considers to be so free from defect that it will legally force its acceptance by a buyer. Marketable title does not assume that absolute absence of defect, but rather a title that a prudent, educated buyer in the reasonable course of business would accept.
How buyers and sellers are navigating real estate’s seismic shake-up. When Dana McMahan sold her home this spring, she decided to try to maximize her take-home profit by skipping out on the help ...
Traditionally, when a home seller hired a real estate agent to represent their listing, the seller agreed to pay a commission. The national average has been about 5 percent of the home’s sale ...
Wraparound mortgage. A wraparound mortgage, more commonly known as a "wrap", is a form of secondary financing for the purchase of real property. [1] [2] The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property. Under a wrap, a seller accepts a secured ...