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

U

Underwriting	The process of analyzing a borrower's capability to honor repayment of a loan (evaluating his or her credit, assets, employment) along with the value of the property being purchased, to help minimize the risk involved for the party lending the purchase money
Unilateral contract	A one-sided contract in which only one party is legally under obligation by the terms of the contract; one party promises an action to the second party, who is not legally required to respond, but if the second part does comply, then the first party is obligated to honor the promise made
Unsecured loan	A loan that is not guaranteed by collateral
Usury	The act of charging more than the maximum rate of interest permitted by law

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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Real Estate Tips

Closing or Settlement >Handle Needed Repairs Early

There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next?

In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

	See All Tips In The "Closing or Settlement" Category >
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Real Estate Trivia

Q	What does the common acronym FSBO (pronounced fizzbo) stand for?
A	For Sale By Owner. (Between 85 to 95% of existing homes are sold with a Realtor's help.)
See More Real Estate Trivia >

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Karen Angona Century 21/Prestige Properties 255 W. Foothill Blvd. Suite 100 Upland, CA 91786 Direct Line: 909-920-4625 Cell: 909-732-3910 Fax: 909-982-8610 Email: karen@karenangona.com Karen Angona is a top-producing associate-broker with Century 21/Prestige Properties. If you choose Karen, you will have the advantage of a sales person with 25 years real estate experience in the Inland Empire as well as individualized, quality service. Karen stays informed with the technological and real estate market changes. She loves the Foothill Communities area that is nestled at the base of Mount Baldy and The San Bernardino National Forest. Karen has a unique combination of experience and enthusiasm, which she shares with her clients. Her motto is "Call Karen and Start Packing. License#0401984

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