United Country Guardian Real Estate - Dillon, Beaverhead Madison County Southwest Montana Real Estate for sale

Dictionary / Glossary / Directory
of Real Estate Terminology
Definitions & Commonly Used
Real Estate Terms

Confused & overwhelmed by the overwhelming number of real estate terms and words? Every person working in real estate or planning to buy or sell real estate can benefit by using this dictionary directory glossary of real estate terminology, definitions and commonly used terms.

Real Estate Terminology Definitions & Commonly Used Terms
In Alphabetical Order

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

    Sale and Leaseback:

  • A sale of property and simultaneous leaseback by the seller. The buyer immediately owns a fully occupied property at an agreed on total rent. Sale-leasebacks provide working capital for a seller and provide a steady, known return to a purchaser. However, a sale-leaseback may result in an inflated price to compensate the seller for the lease payments agreed to be paid.
    • Seller Financing:

    • Any loan from a seller to a buyer of real estate as part of the purchase price. It is a soft-money transaction that is used in "nothing-down" transactions, or other real estate transactions where a seller acts as a lender. Seller financing is common in residential, vacant land, farm & ranch, recreational property and commercial real estate transactions. Seller financing may be in the form of Deed of Trust, Contract for Deed, Mortgage & Note, etc.
      • Sheriff's Sale:

      • A forced sale. The net proceeds of the sale are used to satisfy the debtor's unpaid debt. A sheriff will issue a sheriff's deed to convey ownership to the real estate. The authority for a sheriff's sale comes from a writ of execution issued following a court judgment.
        • Short Sale:

        • The sale of a real estate for less that the unpaid balance of its mortgage loan. Because the lender will receive less than the amount it is owed upon close of the sale escrow, its consent to a short sale must be obtained. Lenders will sometimes give consent to accept less than the unpaid balance of their mortgages when the value of the collateral has declined to the extent that foreclosure is not an attractive remedy.
          • Specific Performance:

          • Remedy available in a court of equity for a buyer to get possession and title to real property and to goods that are unique, when the seller refuses to deliver under a valid sales contract. Dollar damages that are the customary remedy are deemed inadequate.
            • Statute of Limitations:

            • A statute that bars civil or criminal proceedings unless brought within a specified period of time after the act occurred.
              • Subordination Agreement:

              • A contract contained in or incorporated by a deed of trust that reduces its priority to another existing or anticipated deed of trust. Without subordination, a developer would have to retire the full unpaid balance of the secured purchase-money note before construction or development because institutional lenders of interim financing are restricted to first priority liens.
                • Substitution of Collateral Clause:

                • A provision in a note that authorizes the debtor to transfer his mortgage obligation to a different, or substitute parcel of real estate at some time in the future. Following substitution, the original collateral is released and becomes free and clear property.
                  • Syndication:

                  • A pooling of capital to achieve an investment goal. Syndications usually contain active participants with real estate expertise and inactive investors with little or no real estate savvy. See also limited partnership.

                  • Real Estate Terminology Definitions & Commonly Used Terms
                    In Alphabetical Order

                    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

                    While great care has been undertaken to provide accurate explanations and definitions for real estate terms and words in our real estate terms dictionary glossary dirctory, no real estate vocabulary dictionary cannot be completely accurate in all jurisdictions. Any / all definitions are for general purposes only and should not be used for any legal purpose. By use of this dictionary glossary directory of real estate terms, you agree to hold United Country - Guardian Real Estate harmless for any responsibility for any liability, loss or risk that may be claimed or incurred as a consequence of using this information.