Beruflich Dokumente
Kultur Dokumente
Adverse Possession
Acquiring title to real property through public, continuous, exclusive, uninterrupted, and peaceable
possession for a period of time prescribed by statue.
Agent
In the real estate profession, an agent is a licensee who represents either a buyer or seller, or both
buyer and seller through disclosed dual agency, in a transaction.
Amortization
The schedule of periodic loan payments that will extinguish the loan over the repayment period.
The periodic loan payment includes both principal and interest payments. In most real estate loans,
the amount of the periodic payment allocated to principal will increase with each payment, while the
amount allocated to interest will decrease. The amount of the periodic payment remains the same
over the term of the loan.
Appraisal
Estimate of fair market value, at a given time and for a stated purpose, prepared by a licensed
appraiser.
Appurtenance
A right, privilege or improvement permanently attached to the land.
As Is
Generally refers to the purchase of real property with all faults/defects included. The seller must
disclose any known defects in the property in an “as is” purchase; the buyer may also have the right
to inspect the property. However, the buyer has agreed to purchase regardless of the condition of
the property.
Assessed Value
The value of a property as determined by the local tax assessor acting for the appropriate taxing
jurisdiction.
Bill of Sale
An instrument, which passes title to personal property.
Breach of Contract
Occurs when one, or more, parties to a contract default on the terms of the agreement. Remedies
may include a suit for monetary damages, recission of the agreement, or specific performance.
Closing/Settlement
The final step in a real estate transaction when all parties approve the distribution of the funds
generated by the transactions and the seller delivers a deed to the buyer.
Closing Costs
The sum of all costs incurred by both buyer and seller in a real estate transaction. For the buyer,
typical closing costs include loan fees, attorney’s fees and recording fees. For the seller, typical
closing costs include state transfer tax, recording fees, and brokerage commissions.
Common Areas
Portions of a condominium or subdivision for which all owners or residents have a right of use and
enjoyment. In a condominium, all owners have an undivided ownership interest in the designated
common areas. In a subdivision, the community association owns the common areas and all
property owners have an easement for the use of the property.
Community Association
An organization of property owners in which mandatory membership is conferred when the grantee
accepts a deed to the property.
Condominium
A type of fee simple ownership in which the deed holder owns the space between defined vertical
planes, such as walls, ceilings and floors, plus an undivided ownership interest in certain common
elements of the property, such as recreational facilities.
Contingencies
Conditions to the performance of one or both parties to a contract. The most common contingencies
in a real estate sales contract are for financing and for inspection of the property. In general, if a
contingency cannot be met, the party subject to the contingency has the right to declare the contract
null and void and be released of his obligations to the other party.
Consideration
Something of value named in a contract that supports the agreement between the parties.
“Valuable” consideration may be money, personal services, stocks, notes, or other items for which a
value can be established. “Love and affection,” the consideration named in a gift deed, is “good”
consideration and will not support certain kinds of contracts. Earnest money is not consideration.
Counteroffer
An alternate proposal tendered during a negotiation. When a counter-offer is tendered, the original
offer is rejected and a new offer presented. The original offeror is no longer bound by the original
offer.
Deed
The document that is visible evidence of ownership of real property. In a real estate transaction, a
deed transfers title to property when delivered from the seller to the buyer. The new owner records
the deed as notice to the public that a transfer of ownership has transpired. There are four types of
deeds: (1) General Warranty Deed, (2) Limited Warranty Deed, (3) Bargain and Sale Deed, and (4)
Quitclaim Deed. The difference between the deeds is not the quality of title, but the number of
promises made by the Grantor to the Grantee.
Defect
Generally, an item of real property that (1) is not in good working order, (2) is a serious risk to
health or safety, or (3) does not meet code standards in the municipality in which the property is
location. Also, an encroachment or title issue that renders a property less marketable. If the
property is being sold subject to defects being repaired or replaced, the contract should define the
term as it pertains to that particular transaction.
Due Diligence
The process of thoroughly inspecting all aspects of a property, including both a physical
examination and an examination of the public records pertaining to the property. In Georgia, a
buyer must make a reasonably diligent inspection of the property and a diligent inspection of the
neighborhood.
Earnest Money
Also known as good faith money or binder, earnest money is submitted by a buyer along with an
offer to purchase real estate. If the buyer defaults, the seller may keep the earnest money as a full
remedy. The earnest money is usually held by the Broker in a trust or escrow account until the
settlement of the transaction. At settlement, the earnest money is credited towards the purchase
price.
Easements
An interest in land owned by another person, consisting of the right to use or control the land, or an
area above or below it, for a specific limited purpose.
Easement by Prescription
An unrecorded easement that was acquired after a period of twenty years’ use that was public,
continuous, uninterrupted, and peaceable. Private ways (a road, path or driveway across property
belonging to another) are protected after seven years’ use, which must be constant and
uninterrupted.
Equity
The difference between the value of a property and the amount of any loans secured by the property.
Encroachment
An illegal intrusion or projection of improvements either from or onto real property. There are three
general classifications of encroachments, which may affect the title to real property: (1)
encroachments upon abutting property, (2) encroachment upon the subject property, and (3)
encroachments upon streets and alleys.
Escrow
Funds held on behalf of another, such as earnest money held by a Broker or advance payments
toward taxes and insurance held by a lender.
FHA Loan
A loan made by an institutional lender and insured by the Federal Housing Administration against
the borrower’s default. The FHA is not a lending institution, but functions as an insurance company
for which the borrower pays a premium based on the amount of the loan. Because the FHA insures
100% of the loan amount, the lender’s risk is eliminated.
Foreclosure
The process through which a lender redeems a property, which is the security for a loan, usually
when the borrower defaults on any of the terms of the loan agreement. In some states, the process of
securing title is handled through the court system (judicial foreclosure); other states have a process
through which the lender, or a third party on behalf of a lender, sells the property (non-judicial
foreclosure).
Gift Deed
An instrument that conveys title without the exchange of valuable consideration. The phrase “For
love and affection” is usually stated in the deed and is sufficient to make the title transfer valid.
Grantee
One named in a deed to receive the title being transferred through the deed.
Grantor
One who gives the title being transferred through a deed. A Grantor must be of legal age and sound
mind to convey title to real property. Only the Grantor signs the deed.
Implied Easement
An unrecorded easement in favor of one owner by law when the easement is necessary, such as for
light, air, or access to a land-locked parcel of land.
Interest
The portion of a constant mortgage payment plan that is the “rent” on money borrowed. The
interest portion of the payment decreases as the balance owned decreases.
Joint Tenants
A form of concurrent ownership created when two or more persons are entitled to the simultaneous
possession of real property. Joint tenants must have equal ownership shares, take title by the same
deed at the same time, and named in the deed as “joint tenants.” When a Joint Tenant dies, the
decedent’s interest in the property will automatically be transferred to the surviving tenant. (Right
of Survivorship)
License
A permission, usually revocable, to commit some act that would otherwise be unlawful, such as
trespassing upon real property.
Lien
A money judgment against any owner of real property for the purpose of satisfying a debt. Some
types of liens are: (1) Property Tax liens, (2) Federal Tax liens, (3) Mechanics and Materialman’s
liens, and (4) liens under the Georgia Condominium Act or Georgia Property Owners’ Association
Act.
Listing
A term formerly used to denote a property that was offered for sale or rent, on an exclusive or non-
exclusive basis, by a real estate Broker. The term used today is “Employment Agreement.”
Offeror
One who makes an offer.
Offeree
One who receives an offer.
Origination Fee
A charge imposed by a lender, usually paid by the borrower at settlement, for processing and
placing a loan secured by real property.
Owners Association
A mandatory membership organization for owners of property in a certain community, whether a
condominium, town home, or single-family detached neighborhood. The owners association
enforces the community’s Covenants, Conditions and Restrictions, collects any periodic fees
required, and maintains the area’s common amenities.
Personal Property
Anything not permanently attached to land. Anything not permanently attached to real property
belongs to the seller and may be removed prior to closing.
PMI (Private Mortgage Insurance)
Insurance which protects the lender in the event a borrower defaults on a conventional mortgage.
Points
One point is equal to 1% of the loan amount. Discount points are expressed as a percentage of the
loan amount and are paid at closing in exchange for a lower interest rate on the loan. In this case,
the points are pre-paid interest, that is, an advance interest charge.
Pre-Qualification
Generally the first step in the purchase process. The lender may request a credit report and take a
preliminary application to determine if the borrower meets the lender’s standards of income and
credit-worthiness.
Priority
The order in which liens against real property are paid. Liens are paid in order of their recording
dates, with the exception of General and Special Assessment liens (property tax liens), which are
always paid first, and Mechanic’s liens, which get their priority date from the date work first began.
Promissory Note
A contract between a borrower and a lender in which the borrower promises to repay the lender the
amount of the loan, usually plus interest. The promissory note includes the amount of the loan,
maturity date, interest rate, payment terms, and any other agreements between the parties.
Property Description
Also called a “legal description.” A contract for the sale of real property must include a description
sufficient to identify the exact amount and location of the property to be sold.
Property Inspection
Usually considered part of a buyer’s due diligence obligations, a property inspection by a qualified
professional is commissioned to uncover any hidden (latent) defects in the property.
Real Property
The land and its appurtenances. Land includes the surface of the earth, the material beneath the
surface to the center of the earth and the air above the earth to infinity. An appurtenance is a right,
privilege or improvement that is permanently attached to the land.
Specific Performance
A legal action in which the non-defaulting party in a contract sues for enforcement of the terms of
the contract. In a real estate transaction, a buyer may force a seller to sell, or the seller may force a
buyer to buy.
Tax Deed
A deed used to convey title to property sold by the government because of non-payment of ad
valorem property taxes.
Tenants in Common
A form of concurrent ownership created when two or more persons are entitled to the simultaneous
possession of real property. Tenants in Common may have unequal ownership shares. When a
Tenant in Common dies, the decedent’s interest in the property will be transferred through his will
or as provided by intestacy laws.
Title Insurance
Protects either the owner of real property or the lender who holds a promissory note secured by real
property in the event a superior claim to the property’s title arises. The premium is paid one time at
closing. The title insuror may defend the insured’s rights to the property against the claimant or pay
the insured the value of the policy.
Trade Fixture
An item installed in real property by a commercial tenant for use in his trade or business. A trade
fixture may be removed by the tenant prior to the expiration of his lease. If not removed timely, the
item will become the property of the landlord.
VA Loan
A loan made by an institutional lender, which is guaranteed by the Veteran’s Administration. The
VA does not actually loan the funds, although it is permitted to do so in areas that are not serviced
by lending institutions. A VA loan may permit a borrower to finance up to 100% of the value of the
property.
Zoning
Municipal regulations that control how property can be used
Agent Đại lý
In the real estate profession, an agent is a licensee who represents either a buyer or seller, or both
buyer and seller through disclosed dual agency, in a transaction. Trong nghề bất động sản, đại lý là
người đại diện cho một giấy phép hoặc một người mua hay người bán, hoặc người mua và người
bán thông qua cả hai cơ quan đôi tiết lộ, trong một giao dịch.
As Is Như là
Generally refers to the purchase of real property with all faults/defects included. The seller must
disclose any known defects in the property in an “as is” purchase; the buyer may also have the right
to inspect the property. However, the buyer has agreed to purchase regardless of the condition of
the property. Thông thường đề cập đến việc mua bất động sản với tất cả các lỗi / khuyết tật bao gồm
Bên bán phải tiết lộ bất cứ khiếm khuyết được biết đến trong tài sản trong một "như là" mua;..
Những người mua cũng có thể có quyền kiểm tra tài sản Tuy nhiên, người mua có đồng ý mua bất
kể điều kiện của tài sản.
Comparable Market Analysis (CMA) Phân tích thị trường so sánh (CMA)
A CMA, prepared by a real estate professional, estimates the most likely selling price of a property.
The subject property is compared to similar properties that have recently sold properties,
competitive properties that are currently for sale, and properties that expired without selling. The
sold properties indicate where the market has been, the competitive properties indicate where the
market may be heading, and the expired properties indicated what the market has rejected. Một
CMA, chuẩn bị của một chuyên gia bất động sản, ước tính giá bán rất có thể sở hữu một tài sản đối
tượng được so sánh với các đặc tính tương tự mà gần đây đã bán tài sản, tính cạnh tranh hiện đang
để bán, và các tài sản đã hết hạn mà không bán.. Các tài sản được bán cho biết nơi mà thị trường đã
được, các thuộc tính cạnh tranh cho biết nơi mà thị trường có thể được nhóm, và các tính chất hết
hạn sử dụng chỉ định những gì mà thị trường đã bị từ chối.
Contingencies Dự phòng
Conditions to the performance of one or both parties to a contract. The most common contingencies
in a real estate sales contract are for financing and for inspection of the property. In general, if a
contingency cannot be met, the party subject to the contingency has the right to declare the contract
null and void and be released of his obligations to the other party. Điều kiện đối với hiệu suất của
các bên có một hoặc cả hai để hợp đồng phổ biến nhất dự phòng trong một hợp đồng thực tế kinh
doanh bất động. Được tài trợ và kiểm tra tài sản. Nói chung, nếu dự phòng không thể được đáp ứng,
các đối tượng bên trong phòng có quyền tuyên bố hợp đồng vô hiệu và được phát hành các nghĩa vụ
của mình cho bên kia.
Counteroffer Counteroffer
An alternate proposal tendered during a negotiation. When a counter-offer is tendered, the original
offer is rejected and a new offer presented. The original offeror is no longer bound by the original
offer. Một đề nghị đấu thầu thay thế trong đàm phán một khi một đề nghị, truy cập được đấu thầu,
cung cấp ban đầu bị từ chối và. Một đề nghị mới trình bày. Các bên đề nghị ban đầu không còn bị
ràng buộc bởi lời đề nghị ban đầu.
Covenants (Also Covenants, Conditions and Restrictions) Giao ước (Còn ước, Điều kiện và
hạn chế)
Restrictions on the use of real property. Covenants are generally considered an encumbrance on
property because the owners' compliance with the covenants can be enforced judicially. Covenants
are a permanent attachment to the property and pass with the title to the property to all subsequent
owners. Covenants are recorded in the land records of the county in which the property is located.
Các hạn chế về việc sử dụng bất động sản. Ước thường được coi là một trở ngại về tài sản do chủ sở
hữu phù hợp với các điều khoản có thể được thi hành tư pháp. Ước là một tập tin đính kèm của tài
sản cố định và vượt qua với tiêu đề cho tài sản cho tất cả các chủ sở hữu tiếp theo. giao ước được
ghi lại trong hồ sơ đất đai của quận, trong đó tài sản có vị trí.
Escrow Ký quỹ
Funds held on behalf of another, such as earnest money held by a Broker or advance payments
toward taxes and insurance held by a lender. Kinh phí tổ chức thay mặt khác, chẳng hạn như tiền
nghiêm túc tổ chức môi giới một khoản thanh toán hoặc tạm ứng đối với các khoản thuế và bảo
hiểm do bên cho vay.
Government Rights in Real Property Chính phủ sở hữu quyền tại Real
The government has the right to (1) Taxation, (2) Eminent Domain, (3) Escheat (Reversion of Title
to the State in cases of (a) abandonment or (b) death without a will and no known heirs), and (4)
Police Power (Zoning, Building Codes, and Environmental Regulations.) Chính phủ có quyền (1)
Thuế, (2) Eminent Domain, (3) tịch thâu (trao của Tiêu đề cho Nhà nước trong trường hợp bị bỏ rơi
một () hoặc tử vong (b) mà không có sẽ là một và không có người thừa kế nổi tiếng), và (4) Cảnh sát
Power (Quy hoạch, Codes Xây dựng, và các quy định môi trường.)
Grantee Người nhận của tặng
One named in a deed to receive the title being transferred through the deed. Một tên trong một
chứng thư để nhận danh hiệu được chuyển giao thông qua chứng thư.
Lender's Title Insurance Policy Tiêu đề của người cho vay chính sách Bảo hiểm
Protects the lender in the event a defect in the title to real property causes either a loss in value or
loss of title to the property. The lender's policy does not protect the borrower; a borrower should
also purchase an Owner's Title Insurance Policy. Bảo vệ người cho vay trong trường hợp một khiếm
khuyết trong tiêu đề cho bất động sản gây ra hoặc là một mất giá trị hoặc mất danh hiệu cho tài sản
của người cho vay chính sách không bảo vệ các khách hàng vay;. Người vay cũng nên mua một bảo
hiểm của chủ đề chính sách.
Lien Liên
A money judgment against any owner of real property for the purpose of satisfying a debt. Some
types of liens are: (1) Property Tax liens, (2) Federal Tax liens, (3) Mechanics and Materialman's
liens, and (4) liens under the Georgia Condominium Act or Georgia Property Owners' Association
Act. . Một bản án tiền đối với bất kỳ chủ sở hữu của bất động sản với mục đích đáp ứng một khoản
nợ Một số loại sinh quyền cầm giữ là: (1) Thuế tài sản thế chấp nợ, (2) Thuế Liên Bang quyền giữ
thế chấp, (3) Cơ khí và Materialman của thế chấp nợ, và (4) thế chấp nợ Georgia chung cư theo Đạo
luật hoặc Georgia tài sản của chủ sở hữu Hiệp hội Luật.
Listing Liệt kê
A term formerly used to denote a property that was offered for sale or rent, on an exclusive or non-
exclusive basis, by a real estate Broker. The term used today is “Employment Agreement.” hạn A
trước đây được dùng để biểu thị một tài sản đó đã được cung cấp để bán hoặc cho thuê, trên cơ sở
độc quyền hoặc không độc quyền, bởi một môi giới bất động sản hôm nay thuật ngữ được sử dụng
là "Hiệp định việc làm.".
Metes and Bounds Property Description (Long Form Description) Metes và tài sản Bounds mô
tả (Long Mẫu mô tả)
A means of describing the boundary lines of land measured by distances and angles from designated
landmarks and in relation to adjoining properties. Một phương tiện mô tả các đường biên của đất
được đo bằng khoảng cách và góc từ mốc chỉ định và liên quan đến bất động sản liền kề.
MLS/ILS (Multiple Listing Service/Internet Listing Service MLS / ILS (Multiple Listing
Service / Internet Listing Service
An organization established to disseminate information on properties listed for sale or lease to its
member firms. Properties are not listed with the MLS/ILS, but rather properties are listed with the
member firms. Một tổ chức được thành lập để phổ biến thông tin về tài sản được liệt kê để bán hoặc
cho thuê cho các công ty thành viên của nó tiết được. Không được liệt kê với MLS / ILS, mà là tài
sản được liệt kê với các công ty thành viên.
Points Điểm
One point is equal to 1% of the loan amount. Discount points are expressed as a percentage of the
loan amount and are paid at closing in exchange for a lower interest rate on the loan. In this case,
the points are pre-paid interest, that is, an advance interest charge. Một điểm bằng 1% của số tiền
vay. Điểm Giảm được thể hiện như là một tỷ lệ phần trăm của số tiền vay và được trả vào lúc đóng
cửa để trao đổi với một lãi suất thấp hơn cho khoản vay trong trường hợp này. Số điểm là lãi suất trả
trước , đó là, sự quan tâm tạm ứng phí.
Priority Ưu tiên
The order in which liens against real property are paid. Liens are paid in order of their recording
dates, with the exception of General and Special Assessment liens (property tax liens), which are
always paid first, and Mechanic's liens, which get their priority date from the date work first began.
Trình tự, trong đó quyền giữ thế chấp đối với bất động sản được thanh toán. Khoản thế chấp được
trả theo thứ tự ngày tháng ghi âm của họ, với ngoại lệ của Tổng và đánh giá quyền giữ thế chấp đặc
biệt (tài sản thế chấp nợ thuế), mà luôn luôn trả đầu tiên, và Cơ khí chế tạo của sinh quyền cầm giữ,
mà có được ưu tiên của họ ngày kể từ ngày làm việc đầu tiên bắt đầu.
VA Loan VA Loan
A loan made by an institutional lender, which is guaranteed by the Veteran's Administration. The
VA does not actually loan the funds, although it is permitted to do so in areas that are not serviced
by lending institutions. A VA loan may permit a borrower to finance up to 100% of the value of the
property. Một khoản vay được thực hiện bởi một người cho vay tổ chức, được bảo đảm bởi chính
của cựu chiến binh. Các VA không thực sự mượn được tiền, mặc dù nó được phép làm như vậy
trong khu vực không có dịch vụ của các tổ chức cho vay. Một khoản vay VA có thể cho phép một
khách hàng vay để tài chính lên đến 100% giá trị của tài sản.