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Real Estate Terms - M

A designation issued to a member of the American Institute of Real Estate Appraisers who has met specific qualifications.

Money held in reserve to cover anticipated maintenance expenses.

For lending purposes, that amount added to a certain index rate, which results in the interest rate charged the borrower.

The price a buyer will pay and a seller will accept, both being fully informed of market conditions.

An appraisal method to determine value by comparing similar properties to the subject property.

A salable title free of objectionable liens or encumbrances.