What Is Fair Market Value (FMV)? FMV or Fair Market Value is the price that a willing buyer will pay to a willing seller. It further assumes that both parties are knowledgeable and unrelated and neither is forced to make the deal. Fair market value (FMV) in real estate is […]
Real Estate
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What Is an Open-End Mortgage? An open-end mortgage allows individuals to borrow additional money on the same loan at a later date without having to take out new financing or credit. It remains open and it permits the lender to make advances on the loan that are secured by the […]
What are Littoral Rights? Littoral rights refer to the legal use and enjoyment of the shoreline for land that borders a pooled body of water like a pond, lake, or sea. Littoral land refers to land that borders a pooled body of water, such as a lake, ocean, or sea. […]
What Is a DPPs? DPPs are non-traded, pooled investments. They generally invest in real estate or energy-related ventures that are seeking funds for an extended period of time. They are called Direct Participation Programs or Direct Participation Plans. DPPs have a fixed lifespan, generally five to 10 years. However, they […]
What Is Principal Curtailment? Principal curtailment for a mortgage or loan refers to making extra payments or paying periodic lump sums towards debt to pay it off faster. The additional payments are applied to the principal balance on the loan. The more extra payments you make, the faster the principal […]
What Is an Absolute Auction? An absolute auction is where real or personal property is sold to the highest bidder regardless of price with no set minimum or reserve. It is a type of auction in which the sale is awarded to the highest bidder. Absolute auctions do not have […]