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Written by Administrator
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Monday, 22 October 2007 |
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Sale-Leaseback: A transaction in which the buyer leases back the property to the seller for a specified period of time. In many cases, an excellent move for both an investor and property owner. Second Mortgage: Another loan placed upon real estate. Security deposit: A deposit of money by a tenant to a landlord to secure performance of a lease. It also can take the form of a letter of credit or other financial instrument. Seller's Market: A hot real estate market in which sellers have the advantage and multiple offers are common.
Site plan: A detailed plan that depicts the location of improvements on a parcel.
Survey: The process by which a parcel is measured and its boundaries and contents ascertained. Done by a professional engineer. Typically Lenders and Title companies require a current survey.
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