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Beds for the pets: sleeping in comfort
As we love to have a comfortable place to sleep so do the animals. So there are various types of beds for the pets to give them a comfortable sleep. Most of us have the dog as a pet. For the pets we specially have these beds designed for their...
Creating Wall Murals for Children -
Wall murals are a playful, lively way to decorate a child’s room. You can pay a professional painter to create the mural, or you can do it yourself—maybe with your children. Creating a fun wall mural for a child is not very difficult. It’s an easy...
How to Select Exterior Shutters
Installing exterior shutters is a relatively quick way to add style and color to the outside of a house. Historical and modern houses alike benefit from the timeless style of shutters. As with any home improvements, the quality and longevity of...
The Faucet: A Deciding Factor
In the design of your new kitchen, the faucet can be one of the largest, most critical aspects of it all. In many cases, you will find that a beautiful one can be the completion of a beautiful kitchen. But how should you decide and what should...
Wooden Floors Are In
If you don't believe wooden floors are in high demand, just try watching a show like "House Hunters" on HGTV. If you had a dollar for everytime someone said the phrase "hardwood floors" you could pay your cable bill.
Why wooden floors?
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Real Estate Terms – From Condominiums To Deeds Of Trust
When buying or selling a property, it always helps to have a basic understanding of real estate terms. In this on going series of articles, we take a look at definitions starting with “condominium.”
1) Condominium - A type of ownership in real property where all of the owners in a collection of properties jointly own everything except the interior of each property. Accordingly, the jointly area is run by a homeowner’s association, which can assess fees to the owners for improvements, etc.
2) Contract, or Sales Contract, or Contract of Purchase and Sale – the agreement between buyer and seller. In most jurisdictions it must be in writing in order to be enforceable. It covers such things as the identity of the property, the purchase price, any conditions of the sale, the settlement date or escrow period, when the buyer will occupy the property, etc.
3) Contract for Deed – a written document which provides that Deed does not pass to the buyer until the final payment has been made. In the event of default by the buyer, the property reverts to the seller. (One sees these occasionally. I’ve seen them when an owner was financing the sale of raw land for a buyer.)
4) Deposit, or Good Faith Deposit – an amount of money tendered by the buyer at the time a contract offer is made on real property. The contract spells out who holds it, and circumstances under
which the seller gets it, and circumstances under which it’s returned to the buyer. Typically, the seller gets it as part of the purchase price at settlement, or as liquidated damages if the buyer defaults. The buyer usually gets it back if a condition of settlement is not met.
5) Deed – the written document which conveys title to real property. Some states are “record” states and ownership is defined by the deed’s being recorded at the courthouse in which the property lies.
6) Deed of Trust – the document which allows a third party to act for the lender should the lender need to forclose on real property used as collateral for a loan.
As you can image, there are many real estate terms for which you have a general understanding. In our next article, we continue with the terms starting with “Easement.”
About the Author: Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
Source: www.isnare.com
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