Real Estate Dictionary

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

E

Earnest money	A deposit made of a portion of the purchase price by the buyer to demonstrate his or her serious intent to purchase the property, usually accompanied by an agreement outlining the terms and conditions of the sale
Easement	The permanent or temporary right to use the property of another for a specific purpose -- e.g. for access over the property, putting up utility lines, etc.
Egress	The right to leave or exit over a piece of property
Eminent domain	The right of the government to take over private property for public purposes upon payment of its fair market value
Encroachment	A physical, illegal intrusion onto another's adjoining property; examples are a structure, driveway, fence
Encumbrance	Any claim against the fee simple title to a property, such as a lien, mortgage, or easement
Equal Credit Opportunity Act (ECOA)	A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs
Equity	The owner's financial interest in a property, over and above any indebtedness for that property; or the difference between the fair market value of the property, and the amount still owed on its mortgage
Equity Sharing	A form of joint ownership between an owner/occupant and an owner/investor, whereby the owner/investor receives depreciation deductions as his portion of interest in the property, and the owner/occupant receives some of the tax write-offs for interest and taxes, as well as part of his monthly payment being applied against his rent. If the property were sold, the co-owners would also divide the profit
Escheat	Property that reverts to state ownership when an individual dies without a will and without heirs
Escrow	A deed, contract, or something of value deposited with a disinterested third party, to be delivered upon the performance of certain conditions by the parties involved; e.g., an attorney or escrow agent taking custody of funds and documents upon the closing of a sale of real estate
Escrow account	An account established by an escrow agent to hold funds for the agent's principal until the consummation of the transaction
Escrow instructions	A document that outlines the duties of the escrow agent and the obligations of the parties involved in an escrow transaction
Escrow payment; also "impounds" or "reserves" in some states	The portion of a mortgagor's monthly payment that is retained by the escrow agent to cover the costs of taxes, hazard or mortgage insurance, lease payments, and other costs incurred in the course of the transaction
Estate	An individual's possessions and property, relevant particularly at the time of death
Eviction	The legally directed removal of an occupant from real property
Exclusive listing, or Exclusive agency listing, or Exclusive right-to-sell listing	A written contract giving a licensed real estate broker the exclusive right to sell a property for a designated period of time, on terms stated by the owner, for a fee, while also reserving the owner's right to sell the property himself, without paying anyone a commission
Executor	A person named in a will, or in the absence of such designation, appointed by the probate court, to administer an estate and carry out its terms
Extended Mortgage	A mortgage in which the due date of payment is extended, and is usually charged at a higher interest rate than the original mortgage

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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Q  What famous antebellum mansion was known as the "Queen of Tennessee Plantations"? A  Belle Meade Plantation was a prosperous 5,400-acre thoroughbred horse farm in the mid 1800's. The Civil War Battle of Nashville was fought in its front yard. See More Real Estate Trivia >

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Cindy Osborne, Broker/ Owner RE/MAX Preferred Realty 208 South Main Street Statesboro, GA 30458 Cell: 912-601-6000 Email: cindy@cindySOLDit.com Cindy specializes in representing her clients in the purchase and sale of single-family residences, land and income property within the cities of Statesboro, Brooklet, Metter and Portal. She is also very familiar with Georgia Southern University in Statesboro having helped parents and investors buy and sell homes and condo's on and around the campus.She keeps current on all transactions in these areas, and is also very knowledgeable about the local schools. She carries a brokers license which means she is held to a higher standard of service and professionalism. She also has an ERS designation as a Relocation Specialist and understands this better than most having lived in more than 7 states in her adult life. She has the expertise and experience to work for you. You will enjoy her abundant energy and excitement about helping you call Georgia home. She really understands the work it takes to find the right home and will be there to walk you thru every step. She knows her job is not complete until you are totally satisfied and at ease with your transaction. Give Cindy a call today!!! 912-601-6000 www.cindySOLDit.com is brought to you by Cindy Osborne, real estate for Statesboro and Brooklet, Georgia Read Cindy Osborne's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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