The new edition of this best-selling dictionary has been updated to account for changes in the real estate market, including the recent subprime crisis and other financial issues. Approximately 3,000 clear, concise short-entry definitions of real estate terms cover appraisal, architectural styles, brokerage, construction, development, environmental finance, mortgage types, zoning, and much more. Definitions are supplemented with graphs, charts, more than 200 line illustrations, and a list of abbreviations and real estate acronyms. This handbook is a fast-reference guide for home buyers, sellers, real estate professionals, students, investors, and attorneys. Previous editions of this book have appeared on Business Week’s and other business-oriented best seller lists.
Sample Entry:
ACCELERATION CLAUSE a loan provision giving the lender the right to declare the entire amount immediately due and payable upon the violation of a specific loan provision, such as failure to make payments on time. Example: Collins sells her house to Baker, who assumes the existing 8% interest rate mortgage. They do not notify the lender of the sale. Clause 17 in the mortgage states that the full principal accelerates unless the lender approves of the sale. Collins must now pay the balance of the principal.
About the Series:
Each of these very useful and up-to-date quick reference dictionaries lists and defines several thousand specialized terms alphabetically. Business students, business professionals, and savvy consumers will find a wealth of information in these volumes.
