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Backup offer
Backup offer An offer to buy, submitted to a seller, with the understanding that the seller has already accepted a prior offer; a secondary offer.
RELATED TERMS--------------------------------------
Offer
A proposal to purchase property at a specified price and terms.
SIMILAR TERMS--------------------------------------
Back fill
Soil used to solidify the foundation of a structure.
Back title letter
A document that a title insurance company gives to an attorney specifying condition of the title.
Back-end qualification
When qualifying a prospective buyer for financing, the ratio of the borrower's income to monthly debt obligation is a primary consideration.
Back-end ratio
The ratio of monthly housing costs (PITI) plus long-term debt service to total monthly income.
Back-to-back escrow
A closing that is set up so that one party can finalize the purchase of one property and the sale of another at the same time.
Backlighting
Illumination coming from a source behind or at the side of an object.
Backwater valve
A valve in a sewer line that prevents sewage from flowing back into a house.
PREVIOUS AND NEXT TERMS--------------------------------------
Back title letter
A document that a title insurance company gives to an attorney specifying condition of the title.
Back-end qualification
When qualifying a prospective buyer for financing, the ratio of the borrower's income to monthly debt obligation is a primary consideration.
Back-end ratio
The ratio of monthly housing costs (PITI) plus long-term debt service to total monthly income.
Backlighting
Illumination coming from a source behind or at the side of an object.
Back-to-back escrow
A closing that is set up so that one party can finalize the purchase of one property and the sale of another at the same time.
Backup offer
Backwater valve
A valve in a sewer line that prevents sewage from flowing back into a house.
Bail bond lien
A real estate owner who is charged with a crime for which he or she must face trial, and may post bail in the form of real estate rather than cash.
Balance
The appraisal principle that states that the greatest value in a property will occur when the type and size of the improvements are proportional to each other as well as the land.
Balance sheet
A report of financial condition, including assets, liabilities and net worth.
Balanced trust
A "combination trust" is referred to as a "balanced trust" in California.
This dictionary contains 6433 terms. |
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