Hampton Roads Realty,

CONVENTIONAL LOAN
Loans that are not made under any government housing program; they are not subject to the restrictions of government housing programs, such as loan size limits.

REFINANCE
The act of obtaining a new loan to pay off an existing loan; the process of paying off one loan with the proceeds from another.

DEFAULT
Failure to meet legal obligations in a contract, including failure to make payments on a loan.

CUL DE SAC
A street which is open at one end only, and which usually has a circular turnaround; a blind alley.

ATTORNMENT
The act of a tenant formally agreeing to become the tenant of a successor landlord; as in attorning to a mortgagee who has foreclosed on the leased premises.

VACANCY FACTOR
An allowance or discount for estimated vacancies(unrented units) in a rental project. The vacancy rate is the ratio between the number of vacant units and the total number of units in a specified project or area.

ATTORNEY-IN-FACT
One who is authorized by another to act in his place under a power of attorney.

ZONING
The regulation of structures and uses of property within designated districts or zones. Zoning regulates and affects such things as use of the land, types of structure permitted, building heights, setbacks, and density (the ratio of land area to improvement area).

FREE AND CLEAR TITLE
Title to real property which is absolute and unencumbered by any liens, mortgages, clouds or other encumbrances.

LISTING
A written employment agreement between a property owner and a broker authorizing the broker to find a buyer or a tenant for a certain real property.

ATTORNMENT
The act of a tenant formally agreeing to become the tenant of a successor landlord; as in attorning to a mortgagee who has foreclosed on the leased premises.

ALLODIAL SYSTEM
The free ownership of land by individuals.

VERIFICATION OF DEPOSIT (VOD)
Document signed by the borrower's bank or other financial institution verifying the borrower's account balance and history.

Realtor in Hampton Roads, Hampton Roads Real Estate Agent www.shaunotoole.com Helping you with all your real estate needs in Hampton Roads	Chesapeake Virginia Real Estate Agent, Realtor In Chesapeake www.chesapeakeva-re.com Chesapeake Virginia Homes	Norfolk Virginia Real Estate Agent, Realtor In Norfolk www.norfolkva-re.com Norfolk Virginia Homes	Virginia Beach Real Estate Agent, Realtor In Va Beach www.virginiabeachva-re.com Virginia Beach Virginia Homes	Ads