Common Real Estate Terms
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There are currently 3 names in this directory beginning with the letter F.
Fair Market Value
The most probable price that a property should bring in a competitive and open market under all conditions needed for a fair sale, assuming that the price is not affected by undue stimulus and that the buyer and seller are each acting prudently and knowledgeably. The fair market value is the theoretical highest price that a buyer would pay, and the lowest price a seller would accept, assuming that both parties were willing -- but not compelled -- to act.
Financing Fees are the fees charged by the lender at the beginning of the debt service. These fees are also referred to as a finance charge.