Relocation

Relocation

Referring to any service that assists a family to move house or a business to move from one establishment to another.

Industry: Business services

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Relocation

purchase agreement

Business services; Relocation

An agreement between a buyer and seller of real property, setting forth the price and terms of the sale.

prorations date

Business services; Relocation

The day date of closing between homeowner and purchaser.

promissory note

Business services; Relocation

A written agreement, and executed by the maker, to pay a specified amount during a limited time. Commonly used to secure equity loans.

private mortgage insurance (PMI)

Business services; Relocation

Paid by the borrower to protect the lender in the case of default. PMI is typically charged to the borrower when the Loan-to-Value is greater than 80%.

pre-qualification

Business services; Relocation

The process of determining how much money a prospective homebuyer will be eligible to borrow before applying for a loan.

power of attorney

Business services; Relocation

A written document authorizing a person to act of the behalf of another person. The authorized person does not have to be an attorney.

planned unit development (PUD)

Business services; Relocation

Zoning classification that allows flexibility in the design of a subdivision. PUD’s include individually owned units as well as some common space that is jointly owned.