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An evaluation of a property's value conducted by a licensed appraiser.
The rate of return on an investment property, calculated by dividing the property's net operating income by its purchase price.
Expenses incurred by the buyer and seller during the real estate transaction, such as title insurance, attorney fees, and taxes.
A type of housing where individuals own their units but share common areas and facilities with other residents.
The initial payment made by the buyer towards the purchase price of a property, typically a percentage of the total price.
The difference between the market value of a property and the outstanding mortgage balance.
A neutral third party that holds funds and documents during a real estate transaction until all conditions are met.
The legal process by which a lender takes possession of a property due to the borrower's failure to make mortgage payments.
A professional assessment of a property's condition, typically conducted before the purchase to identify any potential issues.
An organization that sets and enforces rules and regulations for a community or condominium complex, typically funded by monthly fees paid by residents.
A legal agreement between a landlord and tenant, outlining the terms and conditions of renting a property.
A loan obtained from a financial institution to finance the purchase of a property, with the property serving as collateral.
The process of obtaining a lender's commitment to provide a mortgage loan, based on an evaluation of the borrower's creditworthiness.
The legal right to ownership of a property.
Local government regulations that dictate how land can be used, such as residential, commercial, or industrial purposes.
The initial payment made by the buyer towards the purchase price of a property, typically a percentage of the total price.
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