A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

M

Majority	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

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Real Estate Tips

Home Inspections >Serious Inspections

When you are involved in the process of buying a home, it is safe to assume that you will probably find one that you like, make an offer, and purchase it. There are many steps along the way, and more and more buyers in the market today want guarantees. Inspections by structural engineers and environmental specialists often turn up something wrong with the property you want to buy. Many sales have been halted or delayed because asbestos, lead, or radon was found on the property.

If a problem has been found with the property you want to buy, ask yourself two questions:
1) Can the problem be fixed?
2) If so, what will it cost to repair it?

Some of the following problems could keep you from purchasing a property, if:
1) the house rests on a fault line;
2) the water supply is contaminated;
3) there is a severe crack in the foundation;
4) the house is located under electro-magnetic power lines;
5) the house is contaminated with radon gas.

Enlist your real estate agent's help in identifying the existence of any of these problems prior to buying property.

	See All Tips In The "Home Inspections" Category >
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Real Estate Trivia

Q	What Elvis Presley film showcased Coco Palms in an outrigger canoe wedding scene?
A	Blue Hawaii (1961)
See More Real Estate Trivia >

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