Dictionary

Formal Complaint

Definition:   An outline of the charges against a licensee that must be addressed within the statutory time frame. Pronunciation:   \ˈfȯr-məl\ \kəm-ˈplānt\ Used in a Sentence:   The licensee received a formal complaint...

Foreclosure

Definition:   A legal procedure whereby property used as security for a debt is sold to satisfy the debt owing to default in payment of the mortgage note or default in...

Follow-up

Definition:   What a sales associate does after a sale to maintain customer contact and goodwill. Pronunciation:   \ˈfä-lō-ˌəp\ Used in a Sentence:   A few weeks after the sale the agent did...

Flag Lot

Definition:   A lot characterized by a long access road or driveway leading back to the main part of the lot. Pronunciation: Used in a Sentence:    When we looked at...

Fixture

Definition:  An article that was once personal property bu has been so affixed to the real estate it has become real property (such as tile, track lighting, fencing) Pronunciation:   \ˈfiks-chər\...

First Mortgage

Definition:  A mortgage on a property that is superior in right to any other mortgage, the first mortgage recorded. Pronunciation: Used in a Sentence:   When paying off mortgage debt, the...