Definitions Of Key Real Estate Terms B
This article provides the definitions of key estate terms beginning with the letter B.
Backup Offer
is an offer to buy submitted to a seller with the understanding that the seller has already accepted a prior offer.
Balloon Payment
is a final payment of a mortgage loan that is considerably larger than the require periodic payments because the loan amount was not fully amortized
Bankruptcy
is a conditions of financial insolvency in which a person’s liabilities exceed asses and the person in unable to pay current debts.
Blanket Mortgage
is a mortgage secured by several properties or a number of lots. A blanket mortgage is often used to secure construction financing for proposed subdivisions.
Breach of Contract
is a violation of any of the terms or conditions of a contract without legal excuse.
Broker
is one who acts as an intermediary between parties to a transaction.
Broker’s Price Opinion
is an opinion of real estate value commissioned by a bank or attorney and provided by a broker
Buyer’s Agent
a residential real estate broker or salesperson that represents the prospective purchaser in a transaction.
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Definitions Of Key Real Estate Key Terms B
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