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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 I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'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 me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
First Time Buyers >A Matter of Timing
Buying real estate can sometimes involve tricky timing. For example, you may have found the perfect house and are thinking about making an offer, but are feeling pressured to make a decision just when you want time to consider the matter. The agent tells you that another party is thinking about making an offer, so you shouldn't hesitate if you really want the house. What should you do? Trust your agent!
It is natural to feel some pressure from even the most easy-going real estate agent--and some uncertainty about making an offer. If you really like a house, there is always the possibility that someone else will share your enthusiasm for it. Whether your local market is active or sluggish, it is sensible to assume that another offer is likely to come in. Perhaps you can afford to "sleep on it", but moving as quickly as possible will minimize the possibility that the house will go to another buyer.
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| Q |
What building has been named the 21st Century Townhouse project?
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| A |
4 townhouse in Bowie, MD made of giant foam/board panels, concrete/styrofoam block frames, steel, and aerated concrete. |
 See More Real Estate Trivia > |
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