Hattiesburg Real Estate Glossary - An Overview

Realty Executives, The Executive Team, Inc.
118 Lamar Blvd #10, Hattiesburg, MS 39402, USA
8J94+FJ Hattiesburg, Mississippi, USA
+1 601-268-1600

PRE-SALE - A pre-development sale system by a condominium developer who is required to provide a certain proportion of models prior to a lender will commit to finance building in the undertaking.

As our Closing Coordinator, Paula is the person to visit for issues or assist, no matter if acquiring or offering. She orchestrates contracts, needed inspections, and preparations for easy closings. Paula is actually a accredited Realtor and is involved in the real estate company for ten years.

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PRINCIPAL BROKER - The certified broker directly in control of and liable for the real estate functions done by a brokerage firm.

Rely on FUND ACCOUNT - An account arrange by a broker in a lender or other acknowledged depository, into which the broker deposits all resources entrusted to him by his principal or Other individuals.

WAREHOUSING - A expression Utilized in funding to describe the process which financial loan correspondents hire, assembling into a single bundle several mortgage loans which the correspondent has originated and promoting them while in the secondary mortgage sector.

TENANCY AT WILL - A tenancy wherein anyone is in possession of real estate with the permission from the proprietor, to get a time period of unspecified or uncertain period, as when an proprietor permits a tenant to occupy a home right until it is actually offered.

CLOUD ON TITLE - Any doc, claim, unreleased lien or encumbrance which lots of impair or injure the title to residence or make the title Uncertain due to its clear or achievable validity.

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We'll supply the very best company doable for every consumer we symbolize. We will never enter into a client marriage the place we determine what is predicted of us cannot be here are the findings carried out in excellent faith. We won't Discover More ever enter into an agreement using a seller who is unrealistic in regard to suitable pricing.

REDUCTION CERTIFICATE - An instrument which shows the level of the unpaid stability of the mortgage, the rate of fascination plus the day of maturity.

VARIANCE - Permission received from governmental zoning authorities to construct a framework or perform a use that is expressly prohibited by The present zoning legislation; an exception from the zoning legal guidelines.

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