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N

NATIONAL ASSOCIATION OF REALTORS® (NAR)	A real estate trade organization that sets the standards for integrity and honesty within the real estate profession nationwide
Negative amortization	A gradual increase in the balance of a loan or mortgage which occurs because the monthly payments made are too small to cover the entire principal and interest charges; this shortfall amount is added to the remaining balance, resulting in negative amortization
Net listing	The advertisement of the price of property for sale in terms of the net price the seller will receive, once the property is sold, a type of listing which is illegal in many states
Net worth	The total value of all of an individual's assets, minus all liabilities or debts
No cash-out refinance	A transaction for refinancing a mortgage in which the new mortgage amount is limited to the sum total of the remaining balance of the first mortgage, points, closing costs, whatever is required to satisfy any liens that are more than one year old and other funds for the borrower's use (as long as the amount is one percent or less of the principal amount of the new mortgage)
Notary	An individual authorized by law to certify documents and signatures
Note	A legal document that obligates a borrower to repay a loan or owed sum of money at a stated interest rate over a designated period of time

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips Buying Land and New Construction >How Easements Affect Your Land It is extremely important to discover whether there are easements on undeveloped land you are thinking about buying. An easement is the legal right to use another person's land for a specific, acknowledged purpose. Easements can significantly affect your development and use of the property. A typical easement might permit the use of a dirt fire road that cuts through both the neighbor's property and your land. The road provides access to both properties, and your neighbor has to drive through yours to get to his. The house you build has to be situated ten to fifteen feet away from this access road. If the road cuts through the middle of the lot, you might have difficulty finding room for the house you want to build. Consult with your real estate agent, an attorney or a title researcher for accurate information about the easements. When making an offer on undeveloped land with an easement issue, be sure to include a contingency that you must approve of any existing easements, or the offer is null and void. See All Tips In The "Buying Land and New Construction" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What does "contingency" mean in real estate? A  A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." See More Real Estate Trivia >

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Claudia Hohlt HomesPlus Real Estate Services 19755 Hwy 105 West Montgomery, TX. 77356 Phone: 936-537-1656 Fax: 936-588-3783 Alternate: 936-582-7710 Email: claudia@claudiahohlt.com I am a long time Montgomery County Realtor who is very familiar and committed to this area. If you are considering buying or selling, I have the experience necessary to efficiently and effectively manage the process and help you maximize value in your next real estate transaction. Helping people on the move is my business........ www.ClaudiaHohlt.com is brought to you by Claudia Hohlt, real estate for Lake Conroe, Conroe and Montgomery, Texas Read Claudia Hohlt's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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