A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Impound, or Reserves	The portion of a borrower's monthly payments held by the lender to pay for taxes, hazard and mortgage insurance, lease payments, and other items that will come due
Income approach	The method of estimating the value of a property by calculating its generated income
Income property	Real estate developed for the purpose of generating income
Indemnify	To provide for compensation in the case of loss or damage to property
Indemnity	The statement of terms under which loss or damage to property will be compensated
Index	A published interest rate used by lenders to compare the interest rate for an adjustable-rate mortgage (ARM) with that earned by other investments (e.g., the yield on Treasury bills, interest rate on loans from savings and loans institution, etc.), as a result of which the ARM interest rate is adjusted
Ingress	The right to enter on or over a piece of property
Insurable Title	A property title which an insurance company is willing to insure against possible claim
Installment contract, or Contract for deed	A contract for the sale of real estate whereby the buyer is in possession of the property while paying off the purchase price in periodic installments, despite the title being retained by the seller until the future date of final payment
Insured closing letter	An indemnity provided by a title insurance company to a lender, whereby the title insurance company assumes responsibility in the case that the closing agent does not fulfill the terms of the loan, or misappropriates the loan proceeds
Insured mortgage	A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI) so that if the borrower defaults on the loan, the insurer compensates the lender the lesser of the loss incurred or the actual insured amount
Interest rate buydown plan	An arrangement made for the initial years of a mortgage whereby the seller (or any other party) deposits money into an account that is then released toward the monthly payments on the mortgage, thereby bringing the mortgagor's interest rate down below the actual interest rate
Interest rate ceiling	The maximum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interest rate floor	The minimum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interim financing	A temporary or short-term loan, often made during the construction phase of a building project, and usually replaced by a permanent long-term mortgage
In testate	The condition of dying without leaving a will. The description of an estate without a will
Involuntary lien	A claim or charge against property placed without the consent of the property's owner

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips Accepting An Offer >Low Offers In every real estate market, there are buyers who make offers that are far below the current market value of the property. How should you react if your agent brings you one of these "low ball" offers? Here are some scenarios for the seller. If your home is priced very close to its fair market value, you can simply reject the offer and be reasonably confident that a better one will appear. However, if you have priced your home higher than other comparable homes in the neighborhood, the offer may not be unreasonable. Ask your real estate agent for advice about the buyer's overall strategy. Do they really want your house or will they move on to another property if you make a counter offer? Can they afford to pay a higher price? Are there ways to close the gap with a small owner take-back, or with terms that will increase your bottom line? Take a hard look at your asking price and explore all your options before saying "no", especially if you are selling in a buyer's market. See All Tips In The "Accepting An Offer" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What is the largest city square in the world? A  Located in Beijing, China, Tianamen Square, called the "Gate of Heavenly Peace", covers 98 acres. See More Real Estate Trivia >

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Ann Picard Ann Picard Realty Inc. 25042 Perdido Beach Blvd P O Box 1147 Orange Beach AL 36561 251-543-6400 Fax: 251-981-2644 pannpicard@aol.com Ann is originally from the mountains of North Carolina. She has lived on the GulfCoast for many years and has traveled extensively selling resort real estate. She specializes in beach and waterfront condominiums, homes and building lots. Her 25 years of experience and knowledge gives any buyer or seller an edge on the market. Mingle that with integrity, dependability and professionalism and you have the best in listing, selling, renting or management of your property. She is licensed in Alabama, Florida, Mississippi, Hawaii and the US Virgin Islands. NO REALTOR IS MORE COMMITTED AND HAS YOU COVERED BETTER THAN ANN! CALL OR E-MAIL HER TODAY! 251-543-6400 OR pannpicard@aol.com www.gulfcoastcondos4sale.com is brought to you by Ann Picard, real estate for Orange Beach, Gulf Shores and Fort Morgan, Alabama Read Ann Picard's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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