Market Price
The actual price at which a property is sold. |
Market Value
The price is established by existing economic
conditions, property location and market style and size
preferences. |
Mortgage
A legal claim received by the lender on a property as
security for the loan made to a buyer to facilitate the
purchase. |
Mortgage Broker
An independent, third-party, licensed
broker who
arranges loan transactions between lenders and borrowers
by facilitating the application and approval process and
by securing favorable terms. |
Multiple Listing Service (MLS)
A system through which participating brokers agree to
share commissions, on a pre-determined percentage split,
on the sale of properties listed by any broker in the
system. |
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