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Sale-Leaseback:
An arrangement by which the owner occupant of a property agrees to sell all or part of the property to an investor and then lease it back and continue to occupy space as a tenant. Although the lease technically follows the sale, both will have been agreed to as part of the same transaction.
Second mortgage
A mortgage, which has a lien position subsidiary to the first mortgage.
Setback
The distance from reduce property line or other reference point, within that building is prohibited.
Survey
The procedure by which a parcel is calculated and its boundaries and contents ascertained. Done by a professional engineer, Typically Lenders and Title companies require a current survey.
Seller's Market
A hot real estate market in which sellers have the benefit and further multiple offers are common. Top
A hot real estate market in which sellers have the benefit and further multiple offers are common.
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