A promissory note is an integral part of a mortgage process, in which the borrower agrees to repay the loan to a mortgage lender. Promissory notes are sometimes referred to as mortgage notes, but they are different. To take the …
A variable lease is an agreement where the payments made by a lessee fluctuate due to market conditions and other factors. Real estate professionals must be familiar with the different types of variable leases in real estate. When learning about …
A leaseback is an agreement where a business owner sells their property and then leases back the same property from the new owner. Real estate professionals must understand how leaseback transactions work in commercial real estate. This lease type is …
A percentage lease is an agreement in commercial real estate where the tenant pays rent plus a percentage of their earned business revenue. This type of lease is frequently used for commercial tenants, so it’s a must-know for real estate …
Title insurance protects lenders and borrowers against any financial loss that might occur due to title defects. This type of insurance is important as it covers the claims on a property that might not appear during appraisal. In real …
A mortgage broker is an agent who connects home buyers with mortgage lenders. These brokers act as intermediaries between the borrowers and the lenders. As a real estate student, you must understand the responsibilities of a mortgage broker. As a …