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

H

Hazard insurance	Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"
Heir	An individual who will potentially inherit an interest in land from someone who dies
Hiatus	A gap or space between two parcels of lands that is not included in the legal description of either parcel
Home equity line of credit, or Home equity loan	A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property
Homeowners' association	A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements
Homeowner's insurance	An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks
Homestead	Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors
Homestead deed	A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors
Housing ratio, or Debt-to-income ratio	The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan
HUD-1 statement	The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties

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

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Real Estate Tips

Making An Offer >Making Your Offer

When you find the right home, what can you do to maximize your chances of actually getting it? The first step you should take is to make a prompt offer.

Whether you are in a buyers' or sellers' market, taking too much time to initiate an offer can cost you money, especially if you are planning to offer less than the asking price or will be asking for special terms. If your offer is the only one on the table, the sellers will consider it, and if they don't accept it, they may make a good counter offer. While you are "sleeping on it", however, you risk the possibility of another offer coming in. If another buyer appears on the scene, you lose an important advantage while you and the sellers are going back and forth with offers and counter offers. A buyer who really wants that special house will make the best possible offer --as quickly as possible.

	See All Tips In The "Making An Offer" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

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Real Estate Trivia

Q	What island was sold to Peter Minuit by the Indians for goods valued at 60 guilders ($24)?
A	Peter Minuit arrived with a group of Dutch settlers in 1626 and purchased what is now known as Manhattan.
See More Real Estate Trivia >

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Nelly Andrushenko Power Realty Inc. 148-29 Cross Island Parkway Whitestone, NY. 11357 718-747-0411 917-406-4922 Fax: 718-747-0504 Email: nelly@nellyshomes.com Nelly Andrushenko started her career in Real Estate in 1989 and after being affiliated with a prominent local Real Estate company for a number of years, Nelly joined one of the Re/Max offices where she worked for four years. In March of 2002, Nelly founded her own Real Estate company, "Power Realty, Inc.". She is constantly in search of knowledge and ways to perfect her customer service. Nelly's enthusiasm and dedication to helping people has brought her success and recognition as a Top Realtor in Northern Queens. If you’ve been thinking of buying or selling a home in the near future, please call Nelly (718) 747-0411 or email her at nelly@nellyshomes.com

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