Glossary of Real Estate Terms

There are 125 entries in this glossary.
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B

Term Definition
Balloon payment

Balloon payment is a lone where monthly payment is very low. But the full balance ought to be paid on the maturity date. The final lump sum payment that is made at the maturity date is called Balloon payment.

Bankrupt

Someone who has surrendered all his assets to a court-appointed trustee and is declared free from his due payment of his debts by the court is called Bankrupt.

Bankruptcy

Bankruptcy is a special kind of proceeding under federal laws. Here the property of a debtor is protected by the court and the property can be divided or distributed among the debtors creditors and the debtor.

Broker

A broker is a negotiator between two parties. He brings the parties together and assists them to negotiate contracts between them for the commission or fee.

Budget

Budget means a detailed plan of your expenditure in certain duration of time. It can help you to maintain your future investment and expenditure.

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