Welcome > Resources > Real Estate Dictionary - A

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

I

Impound, or Reserves	The portion of a borrower's monthly payments held by the lender to pay for taxes, hazard and mortgage insurance, lease payments, and other items that will come due
Income approach	The method of estimating the value of a property by calculating its generated income
Income property	Real estate developed for the purpose of generating income
Indemnify	To provide for compensation in the case of loss or damage to property
Indemnity	The statement of terms under which loss or damage to property will be compensated
Index	A published interest rate used by lenders to compare the interest rate for an adjustable-rate mortgage (ARM) with that earned by other investments (e.g., the yield on Treasury bills, interest rate on loans from savings and loans institution, etc.), as a result of which the ARM interest rate is adjusted
Ingress	The right to enter on or over a piece of property
Insurable Title	A property title which an insurance company is willing to insure against possible claim
Installment contract, or Contract for deed	A contract for the sale of real estate whereby the buyer is in possession of the property while paying off the purchase price in periodic installments, despite the title being retained by the seller until the future date of final payment
Insured closing letter	An indemnity provided by a title insurance company to a lender, whereby the title insurance company assumes responsibility in the case that the closing agent does not fulfill the terms of the loan, or misappropriates the loan proceeds
Insured mortgage	A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI) so that if the borrower defaults on the loan, the insurer compensates the lender the lesser of the loss incurred or the actual insured amount
Interest rate buydown plan	An arrangement made for the initial years of a mortgage whereby the seller (or any other party) deposits money into an account that is then released toward the monthly payments on the mortgage, thereby bringing the mortgagor's interest rate down below the actual interest rate
Interest rate ceiling	The maximum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interest rate floor	The minimum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interim financing	A temporary or short-term loan, often made during the construction phase of a building project, and usually replaced by a permanent long-term mortgage
In testate	The condition of dying without leaving a will. The description of an estate without a will
Involuntary lien	A claim or charge against property placed without the consent of the property's owner

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

	About You
* Your Name:
* Your Email Address:
Your Street Address:
City:
State/Province:
Country:
Zip/Postal Code:
Phone:
	Additional Info
Ask Your Question Here!
Send Latest Listings:
Send Latest News:

*Please note that fields marked with an asterisk are required.

Quick Response Guarantee > Your Privacy Is Guaranteed > Free & Without Obligation >

Q  What famous person said this? "Real Estate is the best investment in the world because it is the only thing they're not making anymore!" A  Will Rogers, who began his career as a rope-throwing cowboy and later became a famous stage and film star. See More Real Estate Trivia >

The Chris Knight Team Coldwell Banker Weir Manuel 177 N. Main Street Suite 100 Plymouth, MI 48170 Direct Line: 734-738-2958 Fax: 734-453-3245 chrisknight@NUMBER1EXPERT.com Why Choose Chris Knight Chris Knight of The Knight-Matt Team of Coldwell Banker Weir Manuel in Plymouth, has been named the #1 Team in the Nation for Coldwell Banker. Over the years, Chris has consistently earned the "Circle of Excellence," "Top Sales Associate," "President's Top 30," and "Founder's" awards from his company Chris began his career 27 years ago and now virtually 100 percent of his business is based on referrals and repeat customers. Chris has always had a strong work ethic and keen entrepreneurial sense. He now employs a full-time office staff to handle administrative duties. This allows him to maintain frequent personal contact with his clients, keeping them apprised of his efforts, new listings, and potential buyers. More importantly, Chris always looks after his clients from an investment standpoint. "I like to make sure my clients get a good value so when they're ready to sell the house years later, it will have been a good investment for them," he explains. Chris is a native of the Plymouth area, currently residing in Plymouth Township with his wife Sue and their daughters, Kylie and Alyssa. The Knight-Matt Team is the #1 Team in the Nation for Coldwell Banker! Why Do Some Real Estate Agents Outsell Others 8 to 1? They negotiate the best deals, list the best homes, have the biggest network of buyers looking for homes, and market properties more effectively, both on the web and off. That's why people come back to them again and again. That's why they sell more homes! They are proven winners - and people know it. How good is YOUR agent? The Chris Knight Team: Helped people buy and sell a staggering 482 properties in 2010! That's a home or property bought or sold every 16 hours. Had over $80 Million in total sales volume for 2010. Has more than 27 years experience in real estate. Employs a team of 2 full-time administrative assistants and five buyers agents dedicated to helping people buy and sell homes. For more information please visit www.NUMBER1EXPERT.com. www.chris-knight.com is brought to you by The Chris Knight Team NUMBER1EXPERT™ in real estate for Plymouth, Canton and Northville, Michigan, Condo, Land, Single Family Home Read The Chris Knight Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.