Washington, DC 20009
Beekman Place is a community of 216 town homes. The community sits on the Western edge of the 2200 block of 16th St NW between Florida...
Washington, DC 20009
The Bishops Gate Condominium community is one of the city’s most unique complexes. The community is built around a central courtyard,...
Folks you have a golden opportunity! Buyers have lower interest rates, lower prices, and an average of about 6 month inventory which...
Another home auction is coming to DC on March 15th, 2009. Here is a list of the properties at the upcoming auction. Address Zip...
Washington DC 20001
130 Q is a multifamily building in the heart of shaw. The developer completely renovated the apartment home into four fantastic condominiums. ...
A person named in a will to administer an estate. The court will appoint an administrator if no executor is named. “Executrix”...
A written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time. Back to Terms Read More →
The report on the title of a property from the public records or an abstract of the title. Back to Terms Read More →
The lawful expulsion of an occupant from real property. Back to Terms Read More →
The ownership interest of an individual in real property. The sum total of all the real property and personal property owned by an...
The use of escrow funds to pay real estate taxes, hazard insurance, mortgage insurance, and other property expenses as they become...
Once you close your purchase transaction, you may have an escrow account or impound account with your lender. This means the amount...
An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example,...
A homeowner’s financial interest in a property. Equity is the difference between the fair market value of the property and the...
A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color,...
Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions. Back to...
An improvement that intrudes illegally on another’s property. Back to Terms Read More →
The right of a government to take private property for public use upon payment of its fair market value. Eminent domain is the basis...
An appraiser’s estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its...
A deposit made by the potential home buyer to show that he or she is serious about buying the house. Back to Terms Read More →
A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security...
The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage. Back to Terms Read More →
In the mortgage industry, this term is usually used in only in reference to government loans, meaning FHA and VA loans. Discount points...
A decline in the value of property; the opposite of appreciation. Depreciation is also an accounting term which shows the declining...
A sum of money given in advance of a larger amount being expected in the future. Often called in real estate as an “earnest money...
Failure to make mortgage payments when mortgage payments are due. For most mortgages, payments are due on the first day of the month....
Failure to make the mortgage payment within a specified period of time. For first mortgages or first trust deeds, if a payment has...
Some states, like California, do not record mortgages. Instead, they record a deed of trust which is essentially the same thing. Back...
Short for “deed in lieu of foreclosure,” this conveys title to the lender when the borrower is in default and wants to...
The legal document conveying title to a property. Back to Terms Read More →
