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 Sam
Site Admin
Joined: 21 May 2005
Posts: 207
Location: CALIFORNIA
93.68 Dollars($)
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 Posted: Fri Jul 22, 2005 11:29 pm Post subject: Terminologies for Alphabet U-X |
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Terms for U- Underwriting
Underwriting is the process of evaluating a borrower's financial capacity to repay a loan. The ...
- Undivided Interest
Undivided interest in the property includes the title to the real property held by two or more ...
- Uniform Commercial Code(UCC)
The Uniform Commercial Code (UCC) is the first Uniform Act proposed in order to harmonize the ...
- Unit Linked Endowment Policy
Unit Linked Endowment policy is a type of endowment policy, which is designed for use with ...
- Unsecured Loan
Those loans which are not secured against an asset and are therefore available as home ...
- Usury
Usury is an interest rate which is charged over the limit established by law. The usury limit ...
Terms for V- Vendors Take Back Mortgage
Vendors take back mortgage is a financing technique where the borrower has the opportunity ...
- VA Loan
Veteran Affair loans or VA home loans are long term loans having a low or zero down payment ...
- Verification of Deposit(VOD)
Verification of Deposit is a legal document issued by the bank. It gives an assurance for the ...
- Vested
As defined by law, vesting is to provide an immediately secured right of present or future ...
Terms for W- Walk Through
A walk through is the buyer's final inspection of the property after the inspection of the third ...
- Warehousing
Warehousing is a specialized form of lending which commercial banks and financial institutions ...
- Warranty Deed
Warranty deed is a type of deed, which officially transfers the title of the property from the ...
- Workout
Borrowers in the mortgage industry can avert foreclosure by negotiating with the lender for a ...
- Wraparound Mortgage
A wrap-around mortgage is a loan transaction in which a borrower transfers the liability of ...
Last edited by Sam on Mon Aug 13, 2007 1:54 am |
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Amanda
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0.10 Dollars($)
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| Posted: Tue May 23, 2006 12:08 pm Post subject: Purchase Private Property |
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| I would like to purchase a piece property on a cash sale. What steps, paperwork, filings etc. do I need to take without the help of an attorney to leagally and properly secure the property? |
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juiov
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0.10 Dollars($)
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| Posted: Tue May 23, 2006 3:24 pm Post subject: |
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Hi Amanda,
I would advice that your real estate attorney/legal counsel can best guide you through this process. |
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leo
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0.10 Dollars($)
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| Posted: Tue May 23, 2006 4:12 pm Post subject: |
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Hi,
I like to mention some of the common points you need to look for like, Earnest Money Agreement, Real Estate Contract, Closing, HUD-1 which itemizes the purchase price, commissions received by the realtor and attorney’s fees, Title Insurance, Real Estate Taxes, Title Search, Survey of the property.
Hope my suggestion helps. |
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1374
Location: florida
229.93 Dollars($)
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| Posted: Tue May 23, 2006 8:27 pm Post subject: RE: Property sale through cash |
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Hi,
You should look out for a real estate agent as he is the right person to guide you as far as finding a suitable property is concerned. There there are negotiations with the seller which can be done by taking help from the agent.
The real estate agents are quite efficient in dealing with the sellers and if you can find an agent who works only for the buyer, then you may be able to purchase the property at a reasonable price.
But as far as the legal paperwork is concerned, you will have to approach a real estate attorney who will guide you regarding how to get your title insured from a title company and all related matters that go into making a fair deal.
Here's wishing you best of luck!
Thanks,
Caron. |
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