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Real Estate Investment Opportunity
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
If you would like to invest in real estate you have come to the right place. Our company, Easy Property Solutions LLC buys foreclosure homes in Hampton Roads, Virginia at deep discounts. We buy properties at 50-75% of their market value. If you have money to invest on a short to mid-term basis, you can and will make double digit gains on your investment. We are looking for investors to put up cash for the homes we purchase. We create a note for the money, and secure it buy a Deed of Trust (lien) on the property. We hold properties from anywhere from 1-6 months. Please call Shaun O'Toole at 757-724-1428 for more info. Real Estate Solutions for Real Estate Investment Opportunity and beyond!
Real Estate Investment Opportunity
Real Estate Terms of the Day for Real Estate Investment Opportunity
DEPRECIATION (TAX)
For tax purposes, depreciation is an expense deduction taken for an investment in depreciable property.
PRINCIPAL
The amount of debt, not counting interest, left on a loan.
LOCUS SIGILLI
Latin for "under seal", used in the abbreviated form, "L.S.," at the end of signature line in some formal legal documents; used instead of the actual seal.
PROBATE
The formal judicial proceeding to prove or confirm the validity of a will. The will is presented to the probate court, and creditors and interested parties are notified to present their claims or to show cause why the provisions of the will should not be enforced by the court.
COMMITMENT
A pledge or promise to do a certain act, such as the promise of a lending institution to loan a certain amount of money at a fixed rate of interest to a qualified buyer, provided the loan is obtained on or before a certain date.
SUMMARY POSSESSION
A legal process used by a landlord to regain possession of the leased premises if the tenant has breached the lease or is holding over after the termination of tenancy.
FLOOD INSURANCE
Insurance that compensates for physical damage to a property by flood. Typically not covered under standard hazard insurance.
CONVERSION CLAUSE
A provision in some ARMs that allows you to change an ARM to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates, and there may be a charge for the conversion feature.
TENANCY IN SEVERALTY
Ownership of property vested in one person alone, and not held jointly with another; also called Several Tenancy or Sole Tenancy.
RESTRICTIVE COVENANT
A private agreement, usually contained in a deed, which restricts the use and occupancy of real property.
PREPAYMENT PENALTY
Fee charged by a lender for a loan paid off in advance of the contractual due date.
SUMMARY POSSESSION
A legal process used by a landlord to regain possession of the leased premises if the tenant has breached the lease or is holding over after the termination of tenancy.
CLOSING COSTS
Expenses of the sale which must be paid in addition to the purchase price (in the case of the buyer's expenses), or be deducted from the proceeds of the sale (in the case of the seller's expenses).
RUNNING WITH THE LAND
Rights or covenants which bind or benefit successive owners of a property are said to run with the land, such as restrictive building covenants in a recorded deed which would affect all future owners of the property.
PRIVATE MORTGAGE INSURANCE (PMI)
Insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's purchase price. (Note, however, that FHA and VA loans have different insurance guidelines.)
CONVEYANCE
The document used to effect a transfer, such as a deed, or mortgage.
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