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Flashcards - Closing & Settlement Real Estate Transactions

Flashcards - Closing & Settlement Real Estate Transactions
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closing
Closing is the final step in executing a real estate transaction
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Capital gains
A capital gain is a profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price
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5 cards in set
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Capital gains
A capital gain is a profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price
closing
Closing is the final step in executing a real estate transaction
Closing costs
Closing costs are fees paid at the closing of a real estate transaction
Escrows
An escrow is: * a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or * an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, * a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums
loan officer
Loan Officers, also referred to as "Mortgage Loan Originators", are people who work for banks and other financial institutions with the main objective to recommend individual and business loan applications for approval

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