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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Earnest money	A deposit made of a portion of the purchase price by the buyer to demonstrate his or her serious intent to purchase the property, usually accompanied by an agreement outlining the terms and conditions of the sale
Easement	The permanent or temporary right to use the property of another for a specific purpose -- e.g. for access over the property, putting up utility lines, etc.
Egress	The right to leave or exit over a piece of property
Eminent domain	The right of the government to take over private property for public purposes upon payment of its fair market value
Encroachment	A physical, illegal intrusion onto another's adjoining property; examples are a structure, driveway, fence
Encumbrance	Any claim against the fee simple title to a property, such as a lien, mortgage, or easement
Equal Credit Opportunity Act (ECOA)	A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs
Equity	The owner's financial interest in a property, over and above any indebtedness for that property; or the difference between the fair market value of the property, and the amount still owed on its mortgage
Equity Sharing	A form of joint ownership between an owner/occupant and an owner/investor, whereby the owner/investor receives depreciation deductions as his portion of interest in the property, and the owner/occupant receives some of the tax write-offs for interest and taxes, as well as part of his monthly payment being applied against his rent. If the property were sold, the co-owners would also divide the profit
Escheat	Property that reverts to state ownership when an individual dies without a will and without heirs
Escrow	A deed, contract, or something of value deposited with a disinterested third party, to be delivered upon the performance of certain conditions by the parties involved; e.g., an attorney or escrow agent taking custody of funds and documents upon the closing of a sale of real estate
Escrow account	An account established by an escrow agent to hold funds for the agent's principal until the consummation of the transaction
Escrow instructions	A document that outlines the duties of the escrow agent and the obligations of the parties involved in an escrow transaction
Escrow payment; also "impounds" or "reserves" in some states	The portion of a mortgagor's monthly payment that is retained by the escrow agent to cover the costs of taxes, hazard or mortgage insurance, lease payments, and other costs incurred in the course of the transaction
Estate	An individual's possessions and property, relevant particularly at the time of death
Eviction	The legally directed removal of an occupant from real property
Exclusive listing, or Exclusive agency listing, or Exclusive right-to-sell listing	A written contract giving a licensed real estate broker the exclusive right to sell a property for a designated period of time, on terms stated by the owner, for a fee, while also reserving the owner's right to sell the property himself, without paying anyone a commission
Executor	A person named in a will, or in the absence of such designation, appointed by the probate court, to administer an estate and carry out its terms
Extended Mortgage	A mortgage in which the due date of payment is extended, and is usually charged at a higher interest rate than the original mortgage

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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Marty Rice Coldwell Banker Blair and Associates 2408 Highway 105 South Boone, NC, 28607 TOLL FREE: 800-473-2653 OFFICE: 828-262-1836 MOBILE: 828-773-1874 DIRECT:: 828-264-8000 MartyRice@bellsouth.net I can make your move to The High Country a great experience – whether you are an investor, family, or young professional! If you are an App State parent looking to purchase student housing, call me for expert advice on how to get into a townhouse with a low down payment plus closing costs. If you are looking for a seasonal home, count on me to find you the vacation communities that cater to your interests! If you are moving your family here, count on me to find you the perfect home and get you acquainted with the community. I have lived and been involved in The High Country since 1979 - raised my family here. I know the doctors, attorneys, schools, churches, and all the sports teams! Let me be your "High Country Connection" to acquaint you with our beautiful Blue Ridge Mountain community! Are you planning to sell? I will customize a Comparative Market Analysis just for you. My skill at pricing homes, marketing strategies, commitment to service and communication has helped sell my homes in record time. Just call or email me – I would love to make your next move the best you’ve ever made! Marty Rice -Licensed North Carolina Realtor www.MartyRice.com is brought to you by Marty Rice, real estate for Boone, Blowing Rock and Banner Elk, North Carolina Read Marty Rice's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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