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WorksheetsREVA
Total questions: 10
Worksheet time: 3mins
Appraisal contingency
the owner owes less on their mortgage
allows a buyer to dissolve a purchase agreement if a home’s value is less than the sale price
indicates that the seller is unwilling to perform most if not all repairs
makes an offer on a property they haven’t seen
Transfer of ownership
tenants in common all own the property, but in different ratios
there is joint ownership or tenancy of a property
transfer of a property’s deed and title from the seller to the buyer
the part of your property you actually own
Equity
the agent and depositary who collects the money, written instruments, documents, personal property, or other things of value
the property is owned outright or the owner owes less on their mortgage
the part of your property you actually own
buyer makes an offer on a property they haven’t seen
Blind offer
“as is” condition usually indicates that the seller is unwilling to perform most if not all repairs
allows a buyer to dissolve a purchase agreement if a home’s appraised value is less than the sale price
buyer makes an offer on a property they haven’t seen
seller accepts an offer from a buyer, that offer is contingent upon the buyer’s ability to meet certain conditions before finalization of the sale
Cathedral Ceiling
A ceiling that follows the underside of the roof or rafters, creating a sloped surface
A projecting roof structure that shelters an entrance.
The earliest type of classical Greek architecture
A pitched roof terminating in a gable at one or both ends.
Escrow holder
a “fixer-upper” loan, which combines the mortgage loan with a loan to help pay for repairs or updates
legal document transferring a title from the seller to the buyer
the agent and depositary who collects the money, written instruments, documents, personal property, or other things of value
protects lenders against below-market interest rates
Double hung window
A projecting shelf-like decorative element over a window.
A window that is placed above a doorway.
A window with top and bottom sashes that slide past each other vertically
The bottom horizontal trim member at the base of a window projecting outward.
Mortgage
a term for the administrative aspects of maintaining your loan
provides a revolving credit line that can be helpful in paying for large expenses or consolidating higher-interest rate debt on loans
insurance to cover any losses or damages you might incur, such as natural disaster, theft, or damage
the agreement between a borrower and a lender giving the lender the right to the borrower’s property
Half-timbered building
A building constructed with timber frame filled with plaster or brick.
A brick oriented with the smaller end exposed on the face of the wall
A short horizontal framing member that joins to studs in a wall
A framing member usually significantly larger than other framing members that carry roof or floor loads over a certain span.
Loan servicing
the agreement between a borrower and a lender giving the lender the right to the borrower’s property
the property is owned outright and has no mortgage remaining
a term for the administrative aspects of maintaining your loan, from the dispersal of the loan to the time it’s paid in full
makes an offer on a property they haven’t seen
