Crossword

5. An expert judgment or estimate of the quality or value of real estate as of a given date.
7. That party in the deed who is the seller or giver.
8. That party in the deed who is the buyer or recipient.
11. payment- is equal to a percentage of the cost of the property and can vary based on the type of loan you receive.
12. your home's equity is the difference between how much your home is worth and how much you owe on your mortgage.
13. In the construction industry, a contractor is one who contracts to erect buildings or portions of them. There are also contractors for each phase of construction: heating, electrical, plumbing, air conditioning, road building, bridge and dam erection, and others.
14. Money paid to a real estate agent or broker by the seller as compensation for finding a buyer and completing the sale. Usually it is a percentage of the sale price--6 to 7 percent on houses, 10 percent on land.
15. or "Offer to Purchase"- A preliminary agreement, secured by the payment of earnest money, between a buyer and seller as an offer to purchase real estate. A binder secures the right to purchase real estate upon agreed terms for a limited period of time. If the buyer changes his mind or is unable to purchase, the earnest money is forfeited unless the binder expressly provides that it is to be refunded

1. Costs- The numerous expenses which buyers and sellers normally incur to complete a transaction in the transfer of ownership of real estate. These costs are in addition to the price of the property and are items prepaid at the closing day.
2. Increase in value of a house due to improvements, adverse changes in the neighborhood, or any other reason.
3. Decline in value of a house due to wear and tear, adverse changes in the neighborhood, or any other reason.
4. Insurance- Protects against damages caused to property by fire, windstorms, and other common hazards.
6. Money paid to a real estate agent or broker by the seller as compensation for finding a buyer and completing the sale. Usually it is a percentage of the sale price--6 to 7 percent on houses, 10 percent on land.
9. A legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, or deed of trust, by taking and selling the mortgaged property, and depriving the mortgagor of possession.
10. A payment plan which enables the borrower to reduce his debt gradually through monthly payments of principal.