Burlington Buying Home
Burlington Buying Home
Burlington Buying Home

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Real Estate Terms of the Day for Burlington Buying Home



HUD
A federal cabinet department officially known as the Department of Housing and Urban Development.

BLANKET MORTGAGE
A mortgage that covers more than one parcel of real estate.

CUL DE SAC
A street which is open at one end only, and which usually has a circular turnaround; a blind alley.

NET INCOME
The sum arrived at after deducting from gross income the expenses of a business or investment, including taxes and insurance, and allowances for vacancy and bad debts; what the property will earn in a given year's operation.

ASSIGNMENT
The transfer of the right, title and interest in the property of one person, the assignor, to another, the assignee. In real estate, there are assignments of mortgages, contracts, agreements of sale, leases, and options, among others.

APPRAISAL
The process of estimating, fixing, or setting the market value of real property. An appraisal may take the form of a lengthy report, a completed form, a simple letter, or even an oral report.

FILLED LAND
An area where the grade has been raised by depositing or dumping dirt, gravel or lava rock.

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