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. …
Appraisal Report
A detailed written report on the value of a property based on recent sales of comparable sites in the area. …
Array
A term used by tax assessors to describe a list of properties in a certain category sold within a given period of time. …
Appraised Value
An opinion of the current market value of a property. …