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Real Estate City Glossary
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Real Estate City Glossary
B
(Back Taxes - Beneficiary Statement)
A1 | A2
| A3 | A4 | B1
| B2 | B3 | C1
| C2 | C3 | D1
| D2 | E1 | E2
| F1 | F2 | F3
|
G1 | G2 | H1
| H2 | I1 | I2
| J | K | L1
| L2 | L3 | M1
| M2 | M3 | N
| O1 | O2
| P1 | P2 | Q
| R1 | R2 | S1
| S2 | T1 | T2
| U | V1 | V2
| W1 | W2 | X
| Y | Z
Back Taxes
Taxes owed from a prior year.
Back-end Fees
Commission received by a syndicator when real estate is sold and
are typically paid after the investors receive their initial investment
plus return.
Back-end Ratio
Lender calculations by which debt (principal, interest, property
taxes and insurance + other monthly bills) is compared with gross
monthly income.
Balance Sheet
Statement of financial condition, which lists assets, liabilities
and stockholder's equity. The net worth of an individual is assets
minus liabilities.
Balloon Loan
A mortgage in which the monthly payment is not intended to repay
the entire loan. The final payment is a large lump sum of the
remaining principal.
Balloon Payment
The final lump sum payment of a balloon loan.
Balloon Note Mortgage
A loan that is only partial amortized and requiring a lump sum
repayment at maturity.
Banked Elebators
A group of elevators adjacent to ech other located within a specific
demised enclosure
Bankruptcy
A legal procedure by which an insolvent debtor can be relieved
of repayment of certain obligations. Bankruptcies remain on a
credit rating for 7 to 10 years. This may become a problem in
obtaining financing.
Bargain and Sales Deed
The most widely used type of real estate deed, this makes the
transfer of property from one individual to another for a consideration
in the form of a sale.
Basis point
A basis point is 1/100 of 1%
Bay
An unfinished area located between a row of columns and the bearing
wall
Bearing Wall
Wall that supports its weight and the weight of other parts of
the structure and are necessary for the stability of a structure.
Bearing walls often include one or more interior walls, as well
as the exterior walls. Openings cut into bearing walls must be
reinforced and a different load path used through the use of headers
carry the loads across the top of the opening.
Bedrock
Soil with solid rock underneath which provides a foundation on
which to construct a building.
Before-tax Income
Total income prior to deduction of taxes.
Belvedere
A summer house on a height or an upper-story open-roofed gallery
designed to give a view of the scenery.
Beneficiary
The lender, who is making a loan, is called either a mortgagee
or a beneficiary. The borrower is the mortgagor.
Beneficiary Statement
Lien holder's statement showing the unpaid balance on a trust
deed note.
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