Buying Home Virginia
Buying Home Virginia
Buying Home Virginia

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Real Estate Terms of the Day for Buying Home Virginia



KIOSK
A small structure usually constructed of wood with one or more sides open and typically used as a newsstand, photo film center or ice cream stand.

INDEX
A published rate used by lenders that serves as the basis for determining interest rate changes on ARM loans.

NUISANCE
Conduct or activity which results in an actual physical interference with another person's reasonable use or enjoyment of his property for any lawful purpose.

MORTGAGEE
The one who receives and holds a mortgage as security for a debt; the lender; a lender or creditor who holds a mortgage as security for payment of an obligation.

COMMON WALL
A wall separating two living units.

HYPOTHECATE
To pledge specific real or personal property as security for an obligation, without surrendering possession of it.

CLOSING COSTS
Expenses of the sale which must be paid in addition to the purchase price (in the case of the buyer's expenses), or be deducted from the proceeds of the sale (in the case of the seller's expenses).

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