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

G

General warranty deed	A deed in which the grantor warrants title against all claims, offering the greatest guarantee of protection of any type of deed, and which is used in most real estate deed transfers of title
Ginnie Mae	The Government National Mortgage Association (GNMA), a United States corporation that guarantees privately issued securities backed by pools of mortgages insured by the Federal Housing Administration, the Farmers Home Administration, or the Veterans Administration
Graduated-payment mortgage (GPM)	A flexible-payment mortgage with monthly principal and interest payments that increase by a certain percentage each year for a certain number of years, and then level off for the remainder of the term
Grantee	The person who, by written document, receives title or an interest in real property from a grantor
Grantor	The person who, by written document, transfers title to or an interest in real property to a grantee
Gross Lease	The most common of residential leases, whereby the landlord pays for all property expenses incurred through ownership, such as taxes, insurance, repairs, etc.
Ground Lease	A long-term lease of land (usually 99 years) that allows the lessee to build and use the land as agreed in the lease, at the end of which, the land and any improvements revert to the owner
Ground rent	The payment made for the use of land when the title to the property is of a leasehold estate, rather than as a fee simple estate
Growing-equity mortgage (GEM)	A fixed-rate loan for which the monthly payments increase over a designated period of time, with the increased amount of the monthly payment being applied directly to the principal balance, thereby shortening the term of the loan
Guarantee mortgage, or Insured mortgage	A mortgage that is guaranteed against default by a third party (such as the FHA), and for which the borrower must pay an insurance premium
Guardian	An individual designated by the Court to protect and preserve the property of someone who is not able to manage his or her own affairs See "Conservator"

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

Closing or Settlement >Handle Needed Repairs Early

There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next?

In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

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Real Estate Trivia

Q	Where is the world's largest bridge located?
A	Lake Pontchartrain Causeway at New Orleans, Louisiana is the world's largest bridge. It is almost 24 miles long.
See More Real Estate Trivia >

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Valerie Core Capstone Homes Realty 532 W. Wulfenite Rd Flagstaff, AZ 86001 928-607-4344 Fax: 928-779-0815 valeriecore@NUMBER1EXPERT.com Regardless of how many homes I sell I never cease to feel satisfaction of providing only the highest levels of service and integrity to my clients. I will work hard to find the home that fits your needs in everyway, as well as protecting your interests when you find it time to sell a property. The happiness of knowing that I am making the Real Estate Process an enjoyable one for my clients is obviously true source of my satisfaction that drove my decision to focus my energy in the Real Estate industry.

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