Term
|
Definition
| A real estate loan that gives the lender the right to seize and sell the property if the borrower fails to make payments on the loan. |
|
|
Term
|
Definition
| The costs of transferring ownership of property to the buyer by the seller. |
|
|
Term
|
Definition
| Taxes collected by the city or county from homeowners to pay for roads, parks, schools, and other public services. |
|
|
Term
|
Definition
| Insurance coverage for homeowners that pays for the costs of living away from home while the home is being repaired. |
|
|
Term
|
Definition
| The price at which a house can be bought or sold. |
|
|
Term
|
Definition
| Percent of the market value of property that is taxed. |
|
|
Term
|
Definition
| Financial protection for homeowners against fire, theft of contents, personal liability and other damages. |
|
|
Term
|
Definition
| The amount paid to an insurance company for insurance. |
|
|
Term
|
Definition
| Insurance coverage for homeowners if someone is injured in their home. |
|
|
Term
|
Definition
| Insurance for homeowners that pays medical expenses if someone is injured in their home. |
|
|
Term
|
Definition
| The amount required to reconstruct a home if it's destroyed, used to determine the amount of insurance a home should have. |
|
|
Term
| Assessed Value of Property |
|
Definition
| The dollar value assigned to a property by a tax assessor for tax purposes. |
|
|
Term
|
Definition
| The costs of public services such as electricity, water and gas. |
|
|
