Dictionary

Definition:   the amount of money  actually paid for an item in a transaction Pronunciation: Used in a Sentence:   The actual sale price of the house was $475,000.

Definition:    the worth of all future benefits of an investment in terms of today’s dollars Pronunciation: Used in a Sentence:   When comparing the two properties we reviewed the present value of ...

Definition:   the amount set by the creditor as a penalty to the debtor for paying off the debt before it matures Pronunciation:  \(ˌ)prē-ˈpā-mənt\\ˈpe-nəl-tē\ Used in a Sentence:   A prepayment pe...

Definition:   a provision in a mortgage that allows the mortgagor to pay the mortgage debt ahead of time without penalty Pronunciation:   \(ˌ)prē-ˈpā-mənt\ \ˈklȯz\ Used in a Sentence:   Since we h...

Definition:   a final walk-through with the sales associate to verify that any repairs have been completed and the property is in good condition Pronunciation:   \in-ˈspek-shən\ Used in a Sentence:...

Definition:   a written instrument authorizing a person to act as the agent on behalf of another who may not be present Pronunciation:  \ˈpau̇(-ə)r\ \ə-ˈtər-nē\ Used in a Sentence:   When my husban...

Definition:   the total annual income a property would produce with 100% occupancy and no collection or vacancy losses Pronunciation:   \pə-ˈten(t)-shəl\ \ˈgrōs\\ˈin-ˌkəm\ Used in a Sentence:    Be...

Definition:   when the benefits from borrowing funds exceed the costs of borrowing them Pronunciation:   \ˈpä-zə-tiv, ˈpäz-tiv\ \ˈle-və-rij\ Used in a Sentence:    An investor wants an investment p...

Definition:   the notebook of written rules and regulations that set desired standards and procedures in an office Pronunciation: Used in a Sentence:   It is important that a broker has a policy ma...