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Welcome > Resources > Real Estate Dictionary - A
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VA guarantee |
An insurance contract for which the Veterans
Administration (VA) guarantees the lender's recovery of a designated percentage
of the loan amount from the insurer in the event that the borrower defaults on
the loan |
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VA loan, or Government
mortgage |
A mortgage loan available to qualified military
veterans which is guaranteed by the Department of Veteran Affairs, usually
offering either no down payment or a low down payment |
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Valuation |
The estimated of value of a
property |
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Variable rate mortgage, or Adjusted rate
mortgage |
A mortgage with interest rates that may
fluctuate based on market conditions |
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Verification of Deposit |
A statement signed by the borrower's financial
institution that verifies the current balances in the borrower's
accounts |
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Verification of
Employment |
A statement signed by the borrower's employer
that verifies the borrower's current position and salary |
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Vest |
To pass an immediate right on to a
person |
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Vested |
Having the right to withdraw a percentage of a
fund before its agreed-upon maturity date; e.g., the percentage vested to
individuals with retirement funds differs; if someone is 80% vested, that means
they can only withdraw 80% of the funds set aside for them until its
maturity |
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Department of Veterans Affairs
(VA) |
A federal agency that insures residential
mortgages made to eligible military veterans, which thereby encourages loans
being made to veterans |
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The people who do title searches have an extremely important job. They must ensure that the sellers really own the property being sold and that all liens against the property are being paid off as a result of the sale.
If the seller has had financial difficulties, for instance, and didn't pay his bills, there may be judgments that must be satisfied on or before the closing. Someone in addition to the party who signed the sales agreement may have an interest in the property. If so, it will be necessary for that person to sign the sales agreement and the deed that transfers ownership to the new buyer. The preliminary title report will also show any easements that run with the property. The Title Company will go back many years, examining what is called the "chain of title". If you learn that the property you are buying has title problems, don't panic. Most of them are resolved easily and in plenty of time to avoid delays in the closing.
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| Q |
What site discovered in 1965 is considered the world's oldest known habitation?
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| A |
The Terra Amata site in Nice, France has the remains of 21 huts belonging to the Acheulian culture from 400,000 years ago. |
 See More Real Estate Trivia > |
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Ackerman Realty Group
A Team of Top Real Estate Professionals
2280 Satellite Blvd.
Duluth, GA 30097
770-843-4300
Fax: 678-298-6758
RogerAckerman@NUMBER1EXPERT.com
Buyers and sellers;discover the strategic advantage of honesty, dedication and trust. Roger is committed to total customer satisfaction. He has carefully put together a group of top real estate professionals to assist him in all phases of the business and transactions. Rest assured, The Roger Ackerman Real Estate Team will always be available to answer your questions and be there for you every step of the way.
Open communications daily or weekly, what ever it takes, between Roger’s team and the clients is paramount and they promise you will never be left in the dark. Roger’s team shows and proves they are Consumer Centered and Results Focused. . Roger and his team stand by a strict moral and ethical code while working for you and is a big reason why The Roger Ackerman Real Estate Team has been so successful.
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