Real Estate Taxi Feed Real Estate Taxi Twitter

All Posts

Real Estate Terms starting with (E)

 

The Following are real estate terms and topics: Starting With the Letter (E)

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Are you confused and overwhelmed by the extensive terms and words used in real estate? Every person working in real estate or planning to buy or sell real estate can benefit from learning some of the terms….

Real Estate Terms E

Real Estate Terms E

Earnest money deposit
Most offers to buy a house are accompanied by a check. This check is generally referred to as the “earnest money deposit.” The basic reason for the deposit is to impress the seller that the buyer “earnestly” intends to purchase the property, which shows that the potential buyer, is serious about buying the house.

Easement
An easement allows another person the right to use your land for a specific purpose.

Effective age
An appraiser’s estimate of the physical condition of a building, in years.. The actual age of a building may be shorter or longer than its effective age.

Effective gross income
Normal annual income including overtime that is regular or guaranteed.

Eminent domain
The right of a government to take private property for public use upon payment of its fair market value.

Employer-assisted housing
Employers work with local lenders to develop plans to assist their employees in purchasing homes.

Encroachment
An improvement that intrudes illegally on another’s property.

Encumbrance
Anything that affects or limits the fee simple title to a property.

Endorser
A person who signs ownership interest over to another party.

Equal Credit Opportunity Act (ECOA)
A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.

Equity
A homeowner’s financial interest in a property.

Escrow
An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition.

Escrow account
The account in which a mortgage servicer holds the borrower’s escrow payments prior to paying property expenses.

Escrow analysis
A report, usually conducted at the completion of a calendar year, itemizing all expenditures from and contributions to an Escrow Account.

Escrow collections
Funds are collected and set aside in an escrow account to pay the borrower’s property taxes, mortgage insurance, and hazard insurance.

Escrow disbursements
The use of escrow funds to pay real estate taxes, hazard insurance, mortgage insurance, and other property expenses as they become due.

Escrow payment
The portion of a mortgagor’s monthly payment that is held by the servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due.

Estate
The ownership interest of an individual in real property.

Eviction
The lawful expulsion of an occupant from real property.

Examination of title
The report on the title of a property from the public records or an abstract of the title.

Exclusive listing
A written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.

Executor
A person named in a will to administer an estate.

If you found this post useful or to your liking, please reward it by stumbling, digging or casting a vote on any other social media service you might like to use. Also don’t forget to subscribe to our blog, so you don’t miss out on any of our posts.

Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Technorati
  • MySpace
  • Yahoo! Buzz
  • LinkedIn
  • Live
  • Reddit
  • StumbleUpon

Related Posts

Leave a Reply

 

 

 

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>