Home > Selling & Buying A Home > Real Estate Terms > Real Estate Terms - C > Page 2

Real Estate Terms - C

|< < > >|

Chattel Mortgage

A mortgage on personal property, as distinguished from one on real property.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Client

One who employs another's services, such as those of an attorney, real estate agent, or insurance agent.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Closing

(1) In the sale of real estate, the final moment when all documents are executed and recorded and the sale is complete. (2) A general selling term describing the stage at which the buyer agrees to purchase.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Closing Costs

Incidental expenses incurred with the sale of real property, such as appraisal fees, title insurance, and termite report.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Closing Statement

A list of the final accounting of all monies of buyer and seller prepared by an escrow agent. It notes all costs each party must pay at the completion of a real estate transaction.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Cloud on Title

An encumbrance on real property that affects the rights of the owner and that often keeps the title from being marketable until the cloud is removed.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Collateral Security

A separate obligation attached to another contract pledging something of value to guarantee performance of the contract.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1

Commercial Bank

An institution that offers checking accounts, loans, savings accounts, and services such as business bans. Banks are active in instaUment loans on vehicles and boats and construction financing, rather than in long-term real estate financing. See also Institutional lenders.

Listing Last Modified: Sat Dec 22 2007

 


Views: 1


|< < > >|