Certificate of Occupancy – David Reecher A document which must be obtained from the local government which states that the new construction has been inspected and is built in accordance wit...Read More
Certificate of Title – David Reecher A statement verifying who has the rights and responsibilities of ownership in a property. This may be ascertained by a public record search but do...Read More
Cap – David Reecher A maximum allowable. For example, many adjustable rate mortgages have a maximum amount that the interest rate may increase over a certain time period....Read More
Broker (i.e. real estate broker) – David Reecher A person duly licensed under the laws of their state to act as an agent for another, and negotiate the purchase, sale and lease of real prop...Read More
Bridge Loan, also called a swing loan – David Reecher A short term loan used to transition in between the paying off of an old loan, and the inception of permanent financing. This...Read More
Binder – David Reecher A preliminary agreement, often accompanied by an earnest money deposit, that shows good faith on behalf of the buyer....Read More
Balloon – David Reecher A mortgage where there are payments over a period of time but the final payment is a lump sum which is quite large, compared to the previous payments....Read More
Covenant – as in Covenants, Conditions and Restrictions, or Restrictive Covenants – David Reecher A clause in a written document, such as a mortgage or a deed, that the ow...Read More
Counteroffer -David Reecher If the receiver of an offer makes any changes to the original offer, it is considered a rejection of the initial offer and becomes a counteroffer....Read More
Co-op – cooperative – also known as cooperative ownership – David Reecher Where several residents hold shares to a cooperative trust or corporation that owns the multi-u...Read More