| |
Glossary of Real Estate Terms (co-cr)
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
Conventional loan
- A long-term loan a lender makes for the purchase of a
home.
Convertible adjustable-rate mortgage
- A mortgage which starts as an adjustable-rate loan, but
allows the borrower to convert the loan to a fixed-rate
mortgage during a specified period of time.
Conveyance
- The transfer of title of property.
Conveyance tax
- A tax imposed on the transfer of real property.
Cooperating broker
- A real estate broker who finds a buyer for a property
that another broker has listed.
Cooperative corporation
- A business trust that holds the title to a cooperative
residential building and grants occupancy rights to shareholders
in the corporation.
Cooperative mortgages
- Any loans related to a cooperative residential project.
Cooperative project
- A project in which a corporation holds title and sells
shares representing individual units to buyers who then
receive a proprietary lease as their title.
Cornice
- A horizontal molding that projects from the top of a structure
or wall.
Corporate relocation
- An arrangement by which employers pay to transfer and
move employees.
Co-signer
- A second party who signs a promissory note and takes responsibility
for the debt.
Counteroffer
Corner bead
- A reinforcement placed in the corner where two walls intersect.
Corner influence
- The effect on the value of a property because it is situated
on a corner or near a corner.
Corrective work
- Necessary or desired repairs to remedy problems uncovered
by a home or specialized inspection.
Cost-plus contract
- A construction contract that determines the builder's
profit based on a percentage of the cost of labor and materials.
Cottage
- A small, one-story house.
Covenant
- A legal assurance or promise in a deed or other document,
or implied by the law.
Covenants, conditions and restrictions (CC&Rs)
- Rules and regulations for a development, such as acceptable
landscaping or improvements that can be made to individual
units.
Craftsman style
- An architectural style that evolved as part of the Arts
and Craft movement near the turn of the century.
Crawl space
- The space between the ground and the first floor of a
home, usually no higher than four feet.
Creative financing
- Innovative home-financing arrangements that help sell
a property.
Credit
- The money a lender extends to a buyer for a commitment
to repay the loan within a certain time frame.
Credit history
- A record of an individual's current and past debt payments.
Creditor
- An individual or institution to whom a debt is owed.
Credit life insurance
- Insurance that pays off a mortgage in the event of the
borrower's death.
Credit rating
- The degree of credit worthiness assigned to a person based
on credit history and financial status.
Credit report
- A credit bureau report that shows a loan applicant's history
of payments made on previous debts. Several companies issue
credit reports, but the three largest are Trans Union Corp.,
Equifax and Experian (formerly TRW ).
Credit repository
- Large companies that gather financial and credit information
from various sources about individuals who have applied
for credit.
Credit union
- Nonprofit cooperative organizations that provide banking
and financial services, including mortgages, home improvement
loans and home equity loans, to their members.
To
page 6 of C (cr-cu)>>>
|
|
|
