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-design sale plan by a condominium developer who is needed to sell a certain percentage of models ahead of a lender will decide to finance development of your job.

BREACH OF CONTRACT - Violation of any of the conditions or ailments of the agreement with out authorized justification; default, non-overall performance, for instance failure to generate payment when because of.

COMPARABLES - Lately sold Qualities which can be similar to a certain home getting evaluated, and which are used to indicate a reasonable honest current market worth for the subject property.

one. Will you be lending your individual income? To be a immediate lender, Academy Mortgage controls the method from application by means of closing and funding. We lend our own cash, so we make the choice to lend.

This fantastic residence with Gunite pool sits on five beautifully landscaped acres just beyond Hattiesburg & Sumrall. Wonderful Gunite pool, massive outside fireplace and lots of patio and porch Room. Four bedrooms downstairs (4th at this time utilised as Business) and large bonus place upstairs with refrigerator, sink, dishwasher.

STRAIGHT Observe - A promissory Notice evidencing a mortgage in which "curiosity only" payments are created periodically in the time period in the Observe, Along with the principal payment owing in one lump sum on maturity.

Guarantee DEED - A deed where the grantor absolutely warrants superior crystal clear title on the premises. Also known as a common warranty deed.

BOUNDARIES - The perimeters or restrictions of a parcel of land click to investigate as fastened by authorized description which is usually a metes and bounds description.

Place LOAN - A bank loan on a specific assets, ordinarily a condominium device, by a lender who has not Earlier financed that particular condominium setting up.

Linda has been a accredited Realtor for over 35 a long time and it has labored in the real estate and mortgage banking sector due to the fact her vocation began.  She has managed household and professional Homes, worked as helpful resources being a mortgage bank loan officer and now enjoys a gratifying vocation in product sales.

SECOND MORTGAGE - A mortgage that's junior or subordinate to a first mortgage; normally, a further personal loan imposed in addition to the initial mortgage, that is taken out in the event the borrower requirements more cash.

In case you foresee a loan default, early motion is very best. Don't hesitate to Get hold of us to routine a session with a skilled lawful advocate concerning our mortgage foreclosure expert services.

CHAIN OF TITLE - The recorded historical past of issues which have an effect on the title to a certain parcel of real assets, for instance ownership, encumbrances and liens, commonly beginning i loved this with the initial recorded source of the title.

TIME SHARING - A contemporary approach to communal possession and use of real estate which permits various purchasers to purchase undivided passions in real assets (which is usually in a resort condominium or hotel) having a proper to utilize the facility for a fixed or variable time period.

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