Real
Estate Markets are very different and many
things are handled differently from one
state to another. We have assembled a
glossary of the most common terms used in
the Florida Real Estate Market to assist
our American clients and the many
international clients from Canada, United
Kingdom and other countries across the
world.
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Balloon payment
A single, large payment made at maturity
of a partially amortized mortgage to
payoff the debt in full
Blanket mortgages
Blanket mortgages occur when one debt
instrument covers two or more parcels
Borrower
The mortgagor; one who gives a mortgage as
security for a debt.
Breach
Failure to do or perform what has been
promised
Broker
A licensee who acts as an intermediary
between two parties and negotiates
contracts between them.
Broker associate
An individual who is qualified to be
issued a broker's license but who operates
as a sales associate in the employ of
another
Building codes
Government ordinances regulating
construction practices and materials
Business brokerage age
The sale, purchase, or lease of businesses
that provide goods and/or services
Business broker
Real estate licensees who engage in the
sale, purchase, or lease of businesses
Business trust (syndicate)
A group of people who associate with each
other for the purpose of purchasing shares
or units at a specified amount per unit,
with the money raised to be used to
purchase the real property, often for
subdividing and resale.
Buydown
A financing technique in which points are
paid to the lender by the seller or
builder that lowers (buys down) the
effective interest rate paid by the
buyer/borrower, thus reducing the amount
of the monthly payment for a set period of
time
Buyer brokerage agreement
An employment contract with a purchaser.
Buyer's market
The supply of available properties exceeds
the demand
Bylaws
Rules that govern the administration of
the condominium
We hope you found the above links useful,
and
remember, if you have any questions
regarding buying or selling your Florida
Holiday Home or permanent residence in
the Disney Orlando area please contact
us - we look forward to your call.
