Real Estate Glossary of TermsPosted by The New Home Spot on
Ever wonder what all those terms mean in Real Estate? Well now you can, check out our Real Estate Glossary of Terms
Acceptance - The time at which an offer to purchase is accepted. The fact that it was accepted must be relayed to the person that made an offer in order for all parties to be bound to the contract.
Ad Valorem Tax – Charged by local government, this tax is based on the value of the property, as determined by the local government authorities.
Adjustable Rate Mortgage (ARM) - A mortgage whose interest rate over the life of the loan is not necessarily the same as the original interest rate at the loan inception. Rate changes may go up or down and are usually tied to an economic indicator and a time period. The person getting…
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