Real Estate Glossary

Real Estate Law Glossary

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There are currently 6 names in this directory beginning with the letter A.
Agreement of Purchase and Sale (APS)
The APS is a legal agreement that offers a certain price for a home. The offer may be firm (no conditions attached) or conditional (certain conditions must be fulfilled before the deal can be closed).

The number of years it takes to repay the entire amount of a mortgage.

An estimate of a property's market value.

The increase of a property's value over time.

The value of a property, set by the local municipality, for the purposes of calculating property tax.

Assumable Mortgage
A mortgage held on a property by the seller that can be taken over by the buyer, who then accepts responsibility for making the mortgage payments.