Dictionary
You can browse real estate terms here
Facilities
The common facilities are electricity, water, security, telephone and cable and others.
Fair Housing Act
The Fair Housing Act was initiated to make sure that everyone who applies for housing has the right to be treated the same. For landlords, this means you cannot discriminate against potential tenants based on color, disability, familial status, national origin, race, religion, or sex.
Fair Market Rent (FMR)
Fair market rent (FMR) is the monthly rent a particular property type is likely to receive.
Fair Market Value (FMV)
This is an estimate of the market value of a property. At its simplest, it is the price that a property would sell for in a fair and open market. The price at which a willing seller will sell and willing buyer will buy, neither being under abnormal pressure.
Federal Housing Administration (FHA)
The Federal Housing Administration, known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories.
Fee Market Value
The price at which a willing seller will sell and willing buyer will buy neither being under abnormal pressure.
Fee Simple
In modern estates, the term “Fee” and “Fee Simple” are synonymous. The term “Fee” is of Old English derivation. “Fee Simple Absolute” is an estate in real property, by which the owner has the greatest power over the title which it is possible to have being an absolute estate. In modern use, it is expressly establishes the title of real property in the owner, without limitations or end. He may dispose of it by sale or trade or will as he chooses.Â
A fee simple represents absolute ownership of land; therefore, the owner may do whatever he or she chooses with the land.Â
An absolute ownership.
FHA Loan
This is a type of mortgage loan that is insured by the Federal Housing Administration. These types of loans are popular among first time home buyers due to the low down payment requirements—as low as 3.5%—as well as a more lenient credit score requirement.
Fiduciary
A person in a position of trust and confidence as between a principal and a broker as fiduciary owes a certain loyalty which cannot to breached under rules of agency.
Finders Fee
A fee or commission paid to a mortgage broker for finding a mortgage loan for a prospective borrower.