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..
Category : S
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..
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..
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 ..
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..
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..
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..
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..
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..
Definition: The SAFE Act sets a minimum standard for licensing and registering mortgage loan originators Pronunciation: Used in a..