Pressure selling occurs when the seller urgently needs to sell an asset, often to pay debts or medical expenses, or in other emergencies.
A short sale is a form of distressed selling in which the homeowner tries to sell his property even if the current market value is lower than the amount owed to the lender.
Urgent sales often result in a financial loss for the seller as buyers realize that the seller is in a hurry to get funds and offer a lower price.
Buying a property through foreclosure or a distressed sale may mean that the property is in poor condition.
The 48 Hour Rule refers to the part of the mortgage allocation process related to the purchase and sale of Mortgage Backed Securities (MBS) to be announced (TBA).
A major improvement is a long-term upgrade, adaptation, or improvement to a property that adds value to it, often including structural changes or restoration.
Effective gross income is calculated by adding the potential gross rental income to other income and subtracting the vacancy and loan costs of the rental property.
A land lease is a contract whereby the tenant can develop the property for the duration of the lease, after which it is transferred to the property owner.