Real Estate Question?

Purchase and sale agreement (contract) in a For Sale by Owner (FSBO) sale without a listing or seller's agent.

Financial document in which borrower agrees to repay a debt to the lender under specified terms, secured by a deed of trust which transfers title to trustee until the debt is paid.

Situations in which loans need to be renewed, extended to avoid default, balloon payments, etc. Often similar to original loan application process.

Situations in which the owner/seller provides a loan to the buyer to complete the purchase.

Situation in which tenant leases a property with the option to purchase at a later date, at a specified purchase price, duration and amount of rent credited to the purchase.

Situation in which a buyer takes over the seller's 'existing mortgage but the loan remains in the seller's name. Allows buyer to acquire property without obtaining a new mortgage.

Buyer obtains a second mortgage that "wraps around" the previous or existing mortgage - New mortgage balance includes balance of the old mortgage, plus the amount for the purchase price.

Legal entity created to hold ownership of real property for the benefit of a beneficiary. Includes enhanced privacy as the trustee, rather than beneficiary is listed on public records.

A transfer deed in which grantor/seller warrants title to the property is free and clear of encumbrances and liens.

A transfer deed in which grantor/seller warrants title is free of encumbrances and liens during their ownership.

Used to fix a mistake or omission in a previously recorded deed, such as a misspelled name or incorrect legal description.

A deed that does not include any warranties about the property's title. Often used to clear up title issues or in transactions between family members.

Used by a donor to transfer ownership of property to the recipient (donee) without any exchange of money.

Allows a property owner to pass their property directly to a beneficiary upon death, without the property going through probate.

Process of clearing liens or claims against an owner's homestead.

A document showing that a debt secured by a lien has been fully paid and satisfied, which is filed in the county property records to remove the lien from title.

Seller/grantor conveys the property with certain warranties, but also retains a lien, which provides the seller with security in case the buyer defaults on an associated loan or fails to meet a specified obligation.

A deed that outlines the agreed-upon division of jointly owned property or assets among co-owners without the need for a court-ordered partition.

Process of the lender foreclosing and taking back property from a non-paying debtor.

A agreement in which a homeowner voluntarily transfers ownership of the property to the lender to satisfy a loan that's in default, avoiding the foreclosure process.

Used to temporarily stop a lender from proceeding with a foreclosure. This allows additional time for the borrower to either challenge the foreclosure or reinstate or bring the mortgage current (including a pending sale of the home).

Discussion and review of prospective, current or past real estate transactions, review of contracts and related documentation, investment strategies.

A document that outlines key terms of a property sale agreement, and is recorded in county property records, preserving buyer's right to the property during the contract period.

A contract between two or more parties who agree to combine resources to undertake a specific real estate project.