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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 |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
|
| A |
Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean. |
 See More Real Estate Trivia > |
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Annette R. Wolf
RE/MAX 2000
11400 Rockville Pike, Suite 200
Bethesda, MD 20852
301-340-8946
Fax: 301-424-3690
annette@annettesellshomes.com
As one of America's #1 Real Estate Experts™ in the Potomac area Annette is well-equipped to handle all of your real estate needs. Annette is one of the top real estate professionals in the Washington Metropolitan area. She is licensed in Maryland and the District of Columbia and is a lifelong resident of the area. Her knowledge of the metro area, her negotiating skills and her commitment to provide the highest quality most professional service in the real estate industry have earned her a stellar reputation.
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