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Welcome > Resources > Real Estate Dictionary - A
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NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
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Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
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Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
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No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
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Notary |
An individual authorized by law to certify
documents and signatures |
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Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Some things are hard to measure, and others are easy. Success in a real estate sale is easy. It occurs when the "SOLD" sign is in your front yard. And having that occur as quickly as possible is the goal of every real estate agent and every home seller.
You have undoubtedly heard that old saying about the "hard way" and the "easy way" to do something. The hard way to get the "SOLD" sign up is to try and sell it yourself. The easy way is to use the services of a real estate sales professional, someone who is not only trained to get it sold, but to get as much for your home as the market will bear.
Remember, the agent doesn't get paid until your home is "SOLD". And the amount they earn in commission is dependent upon the amount of the sale. That's a lot of genuine motivation to do the job right. Save yourself headaches and frustration when you are ready to sell--call a professional real estate agent.
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| Q |
Where would you go to visit the largest ancient castle in the world?
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| A |
You would travel to Prague, Czech Republic, to see the Prague Castle, built in the 9th century, with a total surface area of 18 acres. |
 See More Real Estate Trivia > |
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Diamond NUMBER1EXPERT®
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