To allocate percentages of certain expenses to be paid by the buyer and seller at the time of closing. …
Punch List
A list compiled by a buyer prior to a sale detailing items to be fixed before closing. …
Principle of Regression
An appraisal term which states that the value of higher-end real estate can be brought down by the proximity of lower-end properties. …
Privacy Fence
A structure erected between two pieces of property. …
Private Mortgage Insurance (PMI)
Private Mortgage Insurance, or PMI, is a type of insurance that lenders require from homebuyers who make a down payment of less than 20% of the home's purchase price. PMI protects the lender if the …
Probate
The process of establishing the validity of a will before a duly authorized court or person. Once validity is confirmed, the probate court then administers the sale of property as directed by the will …