Buying By Home Owner Sale
Buying By Home Owner Sale
Buying By Home Owner Sale

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Real Estate Terms of the Day for Buying By Home Owner Sale



DEPRECIATION (TAX)
For tax purposes, depreciation is an expense deduction taken for an investment in depreciable property.

DISCOUNT POINTS (OR POINTS)
Points are an up-front fee paid to the lender at the time that you get your loan. Each point equals one percent of your total loan amount. Points and interest rates are inherently connected: in general, the more points you pay, the lower the interest rate you get. However, the more points you pay, the more cash you need up front since points are paid in cash at closing.

PENTHOUSE
An apartment located on the roof of a building, or more commonly, an apartment on the top floor of a building.

TITLE COMPANY
A company that insures title to property.

PERCENTAGE LEASE
A lease whose rental is based on a percentage of the monthly or annual gross sales made on the premises.

NOTICE OF DEFAULT
Written notice to a borrower that a default has occurred and that legal action may be taken.

LEGAL NOTICE
That notice which is either implied or required by law. Constructive notice under the recording laws is also referred to as legal notice.

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