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P&L - Principle of Progression
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Principle of Regression - Purchase Money
Principle of Regression
Private Mortgage Insurance
Probate Sale
Profit and Loss Statement
Promissory Note
Property Tax
Property Value
Proprietory Lease
Public Record
Public Sale
Purchase Agreement
Purchase Contract
Purchase Option
Purchase Money Mortgage |
Principle of Regression
The concept that a larger house will be worth less due to being located near smaller, less expensive homes.
Private Mortgage Insurance
A policy protecting the lender by paying the costs of foreclosure if the borrower were to fail to pay the loan. The insurance is funded by the borrower. This insurance fee is added on top of the monthly mortgage payment and is usually required if the down payment on a property is less than 20% while being financing using one single loan. Starting 2007 private mortgage insurance or PMI is tax deductible.
Probate Sale
The sale of property after the death of its owner. This type of sale is done by a court and the proceeds are divided among creditors and heirs.
Profit and Loss Statement
A statement documenting all income and all expenses of a business or property.
Promissory Note
A written promise to repay a loan owed within a certain period of time depending on the agreement.
Property Tax
Tax charged by the local or state government on real estate.
Property Value
The worth of value of a piece of property.
Proprietory Lease
An agreement that gives a shareowner of a co-op the right to occupy a property or living unit.
Public Record
Information on an individual's credit report that has been obtained from court records.
Public Sale
A public auction of a property.
Purchase Agreement
A document where a buyer and seller approve the price and other conditions to purchase a property.
Purchase Contract
(aka purchase agreement)
Purchase Option
In real estate, this refers to an agreement where a portion of the renter's monthly rent goes towards purchasing the living unit they occupy.
Purchase-Money Mortgage
A home loan obtained for hte purchase of a property. |
