Definition: A financial report that show’s a company’s financial position at a stated period of time Pronunciation: \ˈba-lən(t)s\ Used in a Sentence: The buyer requested to see the balance sheet for the investment property he was inte..
Category : B
Definition: A single, large payment made at maturity of a partially amortized mortgage to pay off the debt in full. Pronunciation: \bə-ˈlün\ Used in a Sentence: At the end of his loan period, the buyer had a balloon payment of $1..
Definition: A type of deed in which title is transferred and a limited number of warranties are made regarding title to or use of the property. Pronunciation: \ˈbär-gən\ Used in a Sentence: When buying property with a bargain and sale deed you should carefully search for any liens or clouds on the..
Definition: Businesses that attract outside money into the area. Pronunciation:\ˈbās ˈin-(ˌ)dəs-trē\ Used in a Sentence: The Orlando area has a large number of base industries that attract tourists to..
Definition: Imaginary lines running east and west and crossing a principal meridian at a definite point; used by surveyors for reference in locating and describing land under the government survey system. Pronunciation: Used in a Sentence: To find the property we located its position on the ..
Definition: The resulting amount when annual debt service is subtracted from net operating income. Also called gross spendable income or cash throw off. Pronunciation: Used in a Sentence: Our before-tax cash flow enabled us to make the improvements to the..
Definition: A mortgage loan amortized the same way as other loans with monthly payments, except that the borrower makes a payment every two weeks. Pronunciation: Used in a Sentence: By having a bi-weekly mortgage, I will be able to pay off my de..
Definition: A two-year period. Pronunciation: \bī-ˈe-nē-əm\ Used in a Sentence: A real estate license has a biennial renew..
Definition: An agreement in which both parties are legally obligated to each other to perform. Pronunciation: \(ˌ)bī-ˈla-t(ə-)rəl\ Used in a Sentence: Once an offer was accepted, the seller was obligated to complete the sale of the house under the terms of the bilateral sales..
Definition: A document given subject to the writing of a formal contract for sale, usually acknowledging receipt of a portion of the down payment for the purchase of real property. Pronunciation: \ˈbīn-dər\ Used in a Sentence: The agent delivered the binder deposit to t..