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National Association of Realtors
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
|
Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
|
Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
|
Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
|
No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
|
Notary |
An individual authorized by law to certify
documents and signatures |
|
Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What is one of the most common ways for making the interior of a home more appealing to buyers?
|
| A |
Repainting walls with light, neutral colors makes it easier for a buyer to visualize how the home will look with their possessions. |
 See More Real Estate Trivia > |
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Linda Lombardini
Trillium Real Estate
214 West Kingsley
Ann Arbor, MI. 48103
Office: 734-302-3011
Fax: 734-302-3099
Mobile: 734-216-6415
Text Me: 734-216-6415
Email: LindaLom@TrilliumRealtors.com
Call or Text Me at 734-216-6415
Linda Lombardini has been a Realtor since 1991. Her expertise is in educating and counseling her clients so that they may make sound real estate decisions. She is known throughout the Ann Arbor marketplace for her high level of integrity that she brings to her real estate practice. Linda has served the Ann Arbor Area Board of Realtors as a director, and a member of the Grievance and Professional Standards Committees. She has also served on numerous non profit boards and city of Ann Arbor task forces and committees. Linda’s expertise is in helping people buy or sell residential real estate, including homes, condos, new construction and vacant land in the Washtenaw County and surrounding areas, including Ann Arbor, Chelsea, Dexter, Grass Lake, Milan, Pinckney, Saline, Whitmore Lake and Ypsilanti.      
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