When the seller receives little or no net proceeds from the property sale. …
Zoning
Zoning refers to the regulations and laws established by local governments to control the use and development of land within their jurisdiction. These regulations classify land into various zones, …
Zoning Variance
A zoning variance is a deviation from the set of rules a municipality applies to land use and land development, typically a zoning ordinance, building code or municipal code. A one-time modification …
Mello-Roos
Term used to describe an area where a special tax is applied on those real estate owners to pay for various services. The services may include streets, water, sewage and drainage, electricity, …
Assumption (of Mortgage)
Buyer assuming responsibility of seller's existing mortgage at the interest rate and terms as laid out in the original mortgage documents. …
Blended Mortgage
A mortgage that combines the amount owing on an existing mortgage with additional funds being advanced. The interest rate would be a combination of the rate on the old loan and the rate in effect at …