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The Q’s Of Real Estate

REAL ESTATE TERMS YOU MAY WANT TO KNOW WHEN BUYING OR SELLING A HOME IN THE ORLANDO AREA

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(Click A Letter Or Scroll Down To Find A Term Starting With That Letter)


Get to know the language of real estate to get better results when buying or selling a home in the Orlando area
 

Get To Know The “Q’s” Of Real Estate

+/- Click A Term To Read Its Definition – Expands Answer In This Same Window – Click Again To Collapse

+/- Quitclaim Deed

a deed transferring ownership of a property but does not make any guarantee of clear title.

+/- Quiet Title

To free the title to a parcel of land from the claims of others by means of a court action called a quiet title action.

+/- Quadruplex

A quadruplex consists of four units. FHA allows “up to” four (4) units under the single family residence category.

+/- Quiet Enjoyment

A right that a tenant (typically) or an owner has to the use of the property without interference or possession with others.

+/- Quiet Title Action

A court action brought to establish title from a questionable claim or to remove a defect or cloud on the title to property.

+/- Qualifying Ratio(s)

The maximum percentage of a borrower’s income that a lender or government agency will allow a prospective debtor’s payments to be and still be able to approve the loan and which is often referred to a. Guidelines utilized by lenders to determine how much money a homebuyer is qualified to borrow. Lending guidelines typically include a maximum housing expense to income ratio and a maximum monthly expense to income ratio.

+/- Qualified Intermediary

A party who cannot be a relative or agent of an exchanging party and who is needed to complete a delayed exchange to legally hold funds to facilitate a Section 1031 delayed exchange.

+/- Quasi Contract

An obligation that is similar to a contract that is implied by law.

+/- Quarter Round

A molding that has a quarter circular profile.

+/- Quantity Survey Method

A highly technical process used only by contractors and very experienced estimators to arrive at an estimate of cost for new construction which is sometimes referred to in the building trade as the PR.

+/- Qualities Of Value

They are desirability, utility, scarcity and transferability (or the ability to buy). Much of the pricing of goods and services are dependent on these elements of the Qualities Of Value. Heart Surgeons and top notch Attorney’s are good examples of each element regarding paying a high price for services.

+/- Qualified Fee

A fee simple absolute interest in land that is capable of being defeated, ended or terminated upon the happening of a specified event. Also known as Defeasible Fee.

+/- Quadrangle

A square-shaped land area used in the government survey system method of land description that is 24 miles on each side and contains 16 townships. See United States Government Survey System.

+/- Quadrilateral

A plane figure with four sides and four angles that is not square or rectangle.

+/- Quasi

The having of only a limited legal status and being similar to or related to.

+/- QMR

(HUD) Quality Management Review Program – Support QMR reviews of a minimum of 10 field and regional offices. The QMR Program assesses the effectiveness of field and regional office management and program operations, evaluates performance results and identifies any deficiencies or shortfalls and shares exemplary practices with all HUD program and support areas. (for oversight of field operations)

+/- Quantitative Easing (QE)

Quantitative Easing is an unconventional monetary policy used by central banks to stimulate the national economy when standard monetary policy has become ineffective. A central bank implements quantitative easing by buying financial assets from commercial banks and other private institutions, thus increasing the monetary base. This is distinguished from the more usual policy of buying or selling government bonds in order to keep market interest rates at a specified target value.

+/- QSC

Quality Service Certification QSC is revolutionizing the way professional services are delivered by helping consumers and service professionals align their interests so that each can experience the most beneficial outcome.

Keep in mind that this is by no means a complete list of terms, but it does highlight most of the more common terms used in the industry and is a constant work in progress as time passes.

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If you have any questions whatsoever regarding the sale or purchase of a property in the Central Florida area please feel free to call or write me direct. My business hours are Monday thru Friday 9am – 6pm.

Thank you for choosing MORE Realty Services LLC as an information source for your Central Florida real estate needs.

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