Cynthia Siwecki, 01248166, MIRM, CSP
Mt. Hood Village Realty Group, Inc.

503-622-9094
Property SearchContactHome Page
88149 E Creek Ridge Rd., Government Camp, OR 97028
 

Featured Listings
Property Search
Resume
Area Information
Mortgage Calculators
Links Library
Real Estate Glossary
Contact
Home

Logo

 
 
Real Estate Glossary

2 A B C D E F G H I J L M O P Q R S T U V Z       Search

C
  • Cap - A limit, such as that placed on an adjustable rate mortgage, on how much a monthly payment or interest rate can increase or decrease.

  • Cash Reserve - A cash amount sometimes required to be held in reserve in addition to the down payment and closing costs; the amount is determined by the lender.

  • Certificate of Title - A document provided by a qualified source (such as a title company) that shows the property legally belongs to the current owner; before the title is transferred at closing, it should be clear and free of all liens or other claims.

  • Chain of Title - The official record that details the ownership history of a piece of property.

  • Clear Title - A title that is free of liens or legal questions as to ownership of property.

  • Closing - Also known as settlement, this is the time at which the property is formally sold and transferred from the seller to the buyer; it is at this time that the borrower takes on the loan obligation, pays all closing costs, and receives title from the seller.

  • Closing Costs - Customary costs above and beyond the sale price of the property that must be paid to cover the transfer of ownership at closing; these costs generally vary by geographic location and are typically detailed to the borrower after submission of a loan application.

  • Cloud (on title) - An outstanding claim or encumbrance which adversely affects the marketability of title.

  • Commission - An amount, usually a percentage of the property sales price, that is collected by a real estate professional as a fee for negotiating the transaction.

  • Comparative Market Analysis (CMA) - An estimate of the value of a property based on an analysis of sales of properties with similar characteristics.

  • Condemnation - The taking or private property for public use by a government unit, against the will of the owner, but with payment of just compensation under the government's power of eminent domain.

  • Condominium - A form of ownership in which individuals purchase and own a unit of housing in a multi-unit complex; the owner also shares financial responsibility for common areas.

  • Contingency - A condition that must be met before a contract is legally binding.

  • Contractor - In the construction industry, a contractor is one who contracts to erect buildings or portions of them. There are also contractors for each phase of construction: heating, electrical, plumbing, air conditioning, road building, bridge and dam erection, and others.

  • Conventional Loan - A private sector loan, one that is not guaranteed or insured by the U.S. government.

  • Cooperative (Co-op) - Residents purchase stock in a cooperative corporation that owns a structure; each stockholder is then entitled to live in a specific unit of the structure and is responsible for paying a portion of the loan.

  • Covenant - A clause in a mortgage that obligates or restricts the borrower and that, if violated, can result in foreclosure.

  • Covenants, conditions and restrictions (CC&Rs) - Rules and regulations for a development, such as acceptable landscaping or improvements that can be made to individual units.

  • Crawl Space - The space between the ground and the first floor of a home, usually no higher than four feet.

  • Credit Bureau Score - A number representing the possibility a borrower may default; it is based upon credit history and is used to determine ability to qualify for a mortgage loan.

  • Credit History - History of an individual's debt payment; lenders use this information to gouge a potential borrower's ability to repay a loan.

  • Credit Report - A record that lists all past and present debts and the timeliness of their repayment; it documents an individual's credit history.


2 A B C D E F G H I J L M O P Q R S T U V Z       Search

 
 
Mt. Hood Village Realty Group, Inc., 88149 E Creek Ridge Rd., Government Camp, OR 97028
Phone: 925 980-0352  Fax: 503 272-3053  Mobile: 925 980-0352  Email: Send an Email 

Equal Housing Opportunity Logo Equal Housing Opportunity. Cynthia Siwecki is licensed in the state of OR. All information provided is deemed reliable but is not guaranteed and should be independently verified. Terms of Use and Privacy Policy

Copyright © 1998-2017 Home Search One, Inc. All rights reserved.