Albuquerque Real Estate Key Terms
Net Listing is a listing base on the net price the seller will receive if the property is sold.
Net Operating Income is the income after subtracting from gross income all fixed expenses such as maintenance, property taxes, operating expenses, bad debts, and vacancy allowance.
Net Worth is the value after subtracting a person or entity’s liabilities from their assets.
Nominal Interest Rate is the state rate of interest on a note or loan. The nominal rate is typically less than the Actual Percentage Rate.
Nonconforming Use is a permitted use of real property that was permissible at the time of construction but in not allowable under current zoning ordinances.
Note is a document signed by the borrower of a loan and states the loan amount, the interest rate, the time and the method for repayment, and the obligation to repay the loan.
Notice of Default is notice to the defaulting party that a default has occurred.
Novation is the substitution of a new obligation for an old obligation.
Negative Cash Flow is the situation when the cash expenditures to maintain an investment property are greater than the gross cash income from the property.
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.