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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Negative amortization

A financing arrangement whereby monthly mortgage payments are less than required to pay both interest and principal. The unpaid amount is added to the loan balance.

 

Net income

Profit from property or business after expenses have been deducted; effective gross income less operating expenses

 

Net operating income (NOl)

The resulting amount when all operating expenses are subtracted from

effective gross income

 

Non-freehold estate (leasehold interest)

An estate in real property in which ownership is for a determinate time period, as in a lease.

 

Novation

The substitution of a new party and/or new terms to an existing obligation

 

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.