A mortgage that can be transferred to another borrower. …
Assumption Clause
A provision that allows a buyer to take responsibility for the mortgage from a seller. …
Assumption Fee
A fee the lender charges to process new records for a buyer who assumes an existing loan. …
Automatic Extension
A clause in a listing contract stating that the agreement will automatically continue for a certain period of time after the expiration date. This is discouraged and prohibited in many states. …
Automatic Flue Damper
A device in the flue of a heating unit that closes to prevent heat loss when the unit is not in operation. …
Average Price
The price of a home determined by totaling the sales prices of all houses sold in an area and dividing that number by the number of homes. …