- Industry: Real estate
- Number of terms: 9847
- Number of blossaries: 0
- Company Profile:
Century 21 Real Estate LLC is a real estate agent franchise company founded in 1971. The Century 21 System consists of over 7,800 independently owned and operated offices. Century 21 has offices in all 50 states and in more than 67 countries and territories.
Also known as a reverse annuity mortgage. It allows home owners (usually older) to convert equity in the home into cash. Normally paid by the lender in monthly payments. HECM's typically do not have to be repaid until the borrower is no longer occupying the home.
Industry:Real estate
A mortgage loan, which is usually in a subordinate position, that allows the borrower to obtain multiple advances of the loan proceeds at his or her own discretion, up to an amount that represents a specified percentage of the borrower's equity in a property.
Industry:Real estate
A through inspection that evaluates the structural and mechanical condition of a property. A satisfactory home inspection is often included as a contingency of the borrower's equity in a property.
Industry:Real estate
A person who performs professional home inspections. Usually, with an extensive knowledge of house construction methods, common house problems, how to identify those problems and how to correct them.
Industry:Real estate
Insurance that protects a landlord against loss of rent or rental value due to fire or other casualty that renders the leased premises unavailable for use and as a result of which the tenant is excused from paying rent.
Industry:Real estate
In joint tenancy, the right of survivors to acquire the interest of a deceased joint tenant.
Industry:Real estate
A technique in which a seller deeds property to a buyer for a consideration, and the buyer simultaneously leases the property back to the seller.
Industry:Real estate
Money deposited by or for the tenant with the landlord in conjunction with a lease or month-to-month tenancy.
Industry:Real estate
State law that requires certain contracts to be in writing and signed by the party to be charged (or held) to the agreement in order to be legally enforceable.
Industry:Real estate
