Category : S

Definition:   an agreement whereby one party agrees to sell and the other party agrees to buy according to the terms set forth Pronunciation: Used in a Sentence:   Once we had an accepted offer our agent prepared the sale..

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Definition:   a real estate financing technique whereby a property owner sells the property to an investor or lender and , at the same time, leases it back Pronunciation:   \ˈsāl\ \ˈlēs-ˌbak\ Used in a Sentence:    A seller/lessee in a sale-leaseback deal enjoys many benefits: retaining possession of the property while obtaining the full sa..

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Definition:   a licensed individual who, for compensation, is employed by a broker or owner-developer Pronunciation:   \ə-ˈsō-shē-ˌāt\ Used in a Sentence:    Once I passed my state exam I was issued my sales associat..

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Definition:   a method for estimating the market value of a property by comparing similar properties to the subject property Pronunciation: Used in a Sentence:    The appraiser used the sales comparison approach to detemine the value of ..

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Definition:  a certificate issued by the mortgagee when a mortgage is paid in full Pronunciation:   \ˌsa-təs-ˈfak-shən\ \ˈmȯr-gij\ Used in a Sentence:    When we had paid off our mortgage debt we were issued a satisfaction of mortgage from..

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Definition:   a loan that is junior or subordinate to a first mortgage , normally taken out when the borrower needs more money Pronunciation: Used in a Sentence:   We took out a second mortgage on the property when we had to replace..

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Definition:   an agency or financial institution that buys mortgage loans previously made by primary lenders Pronunciation:   \ˈse-kən-ˌder-ē\ Used in a Sentence:   Freddie Mac is a secondary lender that is parimarily a secondary market for conventio..

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Definition:   a source for the purchase and sale of existing mortgages Pronunciation: Used in a Sentence:   Freddie Mac and Fannie Mae are both active in the secondary mortga..

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Definition:   one of the primary units of measurement in the government survey system of land description; a section is one mile square and contains 640 acres Pronunciation:   \ˈsek-shən\ Used in a Sentence:    A section is 1/36 of a..

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