Real Estate Terms


CAM Charge

posted Nov 4, 2010, 4:17 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:17 PM ]

CAM Charge    
Common Area Maintenance charges. Charges commercial tenants may be responsible for paying to cover the tenants' share of maintaining the common areas of a building.

Building Permit

posted Nov 4, 2010, 4:16 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:17 PM ]

Building Permit    
Permission from the local government to erect, alter or remodel improvements to real estate.

Bridge Mortgage

posted Nov 4, 2010, 4:16 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:16 PM ]

Bridge Mortgage    
Used for short-term interim financing allowing the borrower to purchase a replacement property before selling the currently owned property. Also known as a swing loan.

Blanket Mortgage

posted Nov 4, 2010, 4:15 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:15 PM ]

Blanket Mortgage    
A mortgage in which there is more than one parcel of real estate pledged as security for the debt.

Biweekly Mortgage

posted Nov 4, 2010, 4:14 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:15 PM ]

Biweekly Mortgage    
Rather than monthly mortgage payments, a biweekly mortgage calls for smaller payments every two weeks which amortizes the loan quicker and at less total interest costs.

Bench Mark

posted Nov 4, 2010, 4:14 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:14 PM ]

Bench Mark    
A permanent reference mark used by surveyors in elevation measurements.

Balloon Payment

posted Nov 4, 2010, 4:13 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:14 PM ]

Balloon Payment    
The final and considerably larger payment in a balloon mortgage

Balloon Mortgage

posted Nov 4, 2010, 4:12 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:13 PM ]

Balloon Mortgage    
A mortgage in which the periodic payments are not enough to fully pay off the loan by maturity and the final payment is larger than the previous payments

Attornment

posted Nov 4, 2010, 4:10 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:11 PM ]

Attornment    
A tenant agrees to recognize a new landlord and formally agrees to become the tenant of a new landlord

Attorney General's Memorandum

posted Nov 4, 2010, 4:10 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:10 PM ]

Attorney General's Memorandum    
A letter from the New Jersey state attorney general regarding discrimination in real estate transactions. The rules of the New Jersey Real Estate Commission require every licensed broker or salesperson who takes a listing for residential property give the seller or landlord a copy of the Attorney General's Memorandum so they will be aware that it is illegal to discriminate

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