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What is Real Estate?
Real Estate includes the land and the house.
What is real estate Equity?
Equity is apart of your net-worth.
The difference in the value of a property and what you bought it for. e.g. (House is worth £200k. Buys for £150k £50k is equity).
A different type of equity is Equity of a company/asset
This defines your ownership in a company/Asset
E.G. (He owns 28% of the groups equity).
What is a landlord?
A landlord is someone who owns a property witch is rented or leased to an individual or business.
How does a landlord make money?
If a landlords mortgage charges him £1k a month and he charges his residents £1,300 a month he makes £300 profit per month. (This is called cash flow)
Real estate vocabulary
Abutting- Abutting means an area of land or building has a common boundary with another
Acceleration clause- The lender can require the borrower to repay all of an outstanding loan if payment plans are being breached.
Accretion- When land expands it also increases the value of the land
Active property- When a property is available for sale.
Actual fraud- Actual fraud is an intentional misrepresentation of fact; or in plain terms lying.
Ad valorem- A latin phrase meaning "according to value."
Adjustable-rate mortgage (Arm)- Interest rate differs
Adverse possession- when a person who does not have legal right to a property acquires legal ownership based on continuous occupation of the land without the permission of the owner.
Agent- An agent is one who speaks for or represents someone
Agreement of sale- A form that states the buyer consents to purchase a property and the seller agrees to sell that property with the terms and conditions illustrated in from both parties.
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