Albuquerque Real Estate Key Terms
Impact Fees are fees charged by municipalities against new construction to compensate for the added costs of the public services generated by the new construction
Implied Contract is an unwritten agreement inferred by the actions of the parties
Improvement is any structure erected on a site to enhance the value of the property
Income Approach is the process of estimating the value of an income producing property through capitalization of the annual net income expected to be produced by the property during its remain useful life
Income Property is property held for current income as well as the potential profit from appreciation
Inflation the gradual reduction of the purchasing power of the dollar
Inheritance Taxes is the government imposed tax on a decedent’s real and personal property
In House Transaction is a transaction where the only broker in the transaction is the listing broker
Installment Contract is a contract for the sale of real estate whereby the purchase price is paid in periodic installments by the purchaser
Interest is the charge made by a lender for the sue of money
Interest Only Mortgage is a mortgage that only requires the interest payment due on a periodic basis with the principal due at a predetermined time
Intestate is the condition referred to when an individual dies without leaving a will
Interest Rate Cap is the maxim mum allowable increase for an adjustment period on an adjustable rate loan. May also be the maximum allowable increase over the entire duration of an adjustable rate loan
Intrinsic Value is an appraisal term used when referring to the value created by an individual’s personal preference for a particular type of property or geographical area based on the features and amenities the area has to offer
Inverse Condemnation is an action brought by an owner of real estate seeking just compensation for land taken for public use when the taker of the property does not seek to bring eminent domain proceedings.
Investment is money directed toward the purchase, improvement, or development of an asset in expectation of producing a profit
Involuntary Lien is a lien placed on a property without the consent of the property owner.
Myers & Myers Real Estate is a full service real estate brokerage located in Albuquerque New Mexico. We help home buyers and home sellers in the Albuquerque metro achieve their real estate goals. Our website has every home for sale in the Southwest Multiple Listing Service. Check out homes for sale in Albuquerque, homes for sale in Rio Rancho, homes for sale in Corrales, homes for sale in East Mountains, homes for sale in Valencia County, and homes for sale in Los Lunas.