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NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
|
Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
|
Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
|
No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
|
Notary |
An individual authorized by law to certify
documents and signatures |
|
Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
| Q |
What trendy and highly unusual hotel must be totally rebuilt every year?
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| A |
Sweden's popular Ice Hotel, which has 60 double rooms, 25 suites and an interior temperature of 20 degrees, starts melting to the ground in May and is rebuilt every winter. |
 See More Real Estate Trivia > |
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Bobby Daniel and The Clear Choice Team
Keller Williams Realty
5629 N. Classen
Oklahoma City, OK 73118
Tel: 405-834-5123
Fax: 405-603-7063
Email: bobbydaniel@NUMBER1EXPERT.com
Why are we in real estate? We truly love it. There is nothing that makes us happier than to match a family with their home. We are always looking for new and innovative ways to help our clientele. We are growing everyday with relocating many military families. Bobby Daniels has served in the air force for 4 years and he is passionate about accommodating military families. We really enjoy offering many ways to make their move seamless and enjoyable.   
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