Category: Glossary

Chattel | Personal property, such as household items.

Chain of Title | A succession of conveyances that comprises the title record history to a specific parcel of real property.

Certificate of Sale | A certificate issued at a judicial sale that entitles the buyer to receive a deed after confirmation of court for the purchase of the property.

Cash Flow | The surplus left over out of the rents after paying out all operating expenses and mortgage payments.

Capital Gain | A profit earned from the sale of an asset.

Buyers Market | A market condition where there are fewer buyers than there are sellers. Usually indicated when a property is on the market for more than 90 days and interest rates are very high. (12% or higher)

Buy-Down mortgage | A financing technique used to reduce the monthly payments for the first few years of a loan. Funds in the form of discount points are given to the lender by the builder or seller to buy down or lower the effective interest rate paid by the buyer, thus reducing the monthly payments for a set time.

Brokerage | The bringing together of two or more parties interested in making a real estate transaction.

Broker | A agent authorized by the state to deal in real estate.

Breach | The breaking or violating of a law, a right, obligation, engagement, or duty, either by commission or omission.