The age at which an individual is legally
entitled to handle his or her own affairs
Margin
The amount added to the index on an
adjustable-rate mortgage (ARM) that establishes the adjusted interest rate at a
given time
Market value, or Fair market
value
The most likely price that a piece of property
or home can realistically be sold for, and is dependent on the selling price of
similar real estate in the area
Marketable title
A clear, unencumbered title, reasonably
acceptable without the threat of the risk of litigation
Maturity
The date on which the principal balance of a
loan, bond, or other financial commitment is due and payable
Mechanic's lien
A lien created by statute to allow unpaid
contractors, laborers or suppliers who have performed work on or furnished
materials for the construction of a building to recover the value of their
work
Metes and Bounds
Means for describing property by a set of
directions and distances, when there isn't identification based on a surveyed
lot number
Minor
An individual below the age at which he or she
is legally entitled to handle his or her own affairs
Monument of Survey
le indications made on natural or man-made
objects that indicate the boundaries of a survey
Mortgage
A legal document that pledges a property to the
lender as security for the payment of a loan or debt
Mortgage broker
An individual or company that acts as an agent
between borrowers and lenders for the purpose of arranging and negotiating
mortgage contracts; who is paid a fee for such service
Mortgage insurance
A contract that guarantees the lender against
loss caused by a mortgagor's default on a government or conventional mortgage;
such insurance can be issued by a private company or by a government agency,
and covers either only a percentage, or the total, of the mortgage
loan
Mortgagee
The lender in a mortgage
transaction
Mortgagor
The borrower in a mortgage
transaction
Multiple-listing service
(MLS)
An organization of brokers who share their
listing agreements with one another in order to find buyers for their
properties more effectively than they could individually
Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'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 me know! I always appreciate feedback.
Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
Disclosure Laws >What Not To Do When Selling
Putting your home on the market is a major decision that carries a high stress factor. Sellers sometimes become emotionally overwhelmed from the pressure and make expensive mistakes. Here are some pitfalls to avoid when selling your home.
Don't fail to disclose defects in the property. Disclosure laws require you to reveal information about the home systems, including environmental issues, structural problems, homeowner's association rules and restrictions on use of the property. Many buyers will require an inspection of your property prior to finalizing the sale, and problems you may hope to hide will tend to come to light.
Don't make last-minute home improvements that may not add value. Remodeling takes time, will prolong the work of getting your home ready to show, and won't necessarily please buyers. Don't price your home too high. Your asking price should be within range of comparable homes in the area that have recently sold. And finally, don't try to sell your home without the help of an experienced real estate agent!
Joyce Barnwell Intracoastal Realty 1206 N. Lake Park Blvd. Carolina Beach, NC 28428 Tel: 910-617-7654 Fax: 910-458-7759 Email: joycebarnwell@NUMBER1EXPERT.com
Residing in the peaceful coastal community of Carolina Beach, I’m a licensed North Carolina Realtor with over 30 years real estate experience and 20 years owning my own real estate company, faithfully serving the unique real estate needs of buyers, sellers and investors.
I specialize in the listing and selling of residential pre-existing homes, newly constructed homes, waterfront property, golf course property, investment property, condos and duplexes as well as lots for sale in and around North Carolina’s New Hanover County coastal communities of Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach and Figure Eight.
Thanks again for visiting my site and don’t hesitate to call me direct at 877-617-7654.
www.JoyceBarnwell.com
is brought to you by Joyce Barnwell, real estate for
Wilmington, Carolina Beach and Kure Beach, North Carolina
- NUMBER1EXPERT 
