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Real Estate Dictionary


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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

H

Hazard insurance

Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"

Heir

An individual who will potentially inherit an interest in land from someone who dies

Hiatus

A gap or space between two parcels of lands that is not included in the legal description of either parcel

Home equity line of credit, or Home equity loan

A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property

Homeowners' association

A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements

Homeowner's insurance

An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks

Homestead

Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors

Homestead deed

A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors

Housing ratio, or Debt-to-income ratio

The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan

HUD-1 statement

The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties

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 Trivia
Q 
What is an encumbrance against a property, which may be voluntary or involuntary?

A 
There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien.
See More Real Estate Trivia >

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Timothy Toye & Associates, REALTOR®, real estate agent and broker for Cobb, Middletown and Kelseyville, California home listings, property and land for sale

Timothy Toye
Timothy Toye & Associates

Cobb Village Center
16360 Hwy. 175
Cobb, CA. 95426-1353
Office: 707-928-6900
24-Hour Direct Line: 707-928-5912
Fax: 707-928-5696
Email: Timothy@TeamToye.com


Lake County's Leading Real Estate Team covering the whole of the County including Cobb, Middletown & Hidden Valley Lake, Clearlake Riviera, Jago Bay, Riviera West, Buckingham & Riviera Heights, Kelseyville, Lakeport, Lower Lake, Clearlake Oaks, Nice, Lucerne and Upper Lake, as well as lakefront, ranches and acreage properties.

Timothy has more than 26 years experience successfully selling real estate both in California and the US, as well as in his native land of New Zealand. He has assembled a powerful team of experienced Realtors, operating on specific professional principles, with full marketing and administrative assistance to ensure that you have a successful real estate experience.

He has extensive management, real estate investment and marketing experience, having worked and consulted with Best Image Marketing, the top Internet marketers for Realtors in North America, and located in Lake County. The other members of the team complement this experience.

Timothy is both a high individual producer, having closed as many as 130 transactions in a year, including selling more properties than any other Realtor in the County from 2004 to the present, as well as a skillful sales manager & trainer.

In 1990 he led his sales team to the #1 residential sales production award in the whole of New Zealand. He and his team have invested personally in real estate extensively in many different kinds of property including single family homes, fixer-uppers, apartment buildings and raw land. They have bought several properties 'creatively' with no money down.

Team Toye, the most productive real estate sales team in Lake County in 2009, and in 2011 we have represented more buyers than any other real office in the county, brings a combination of personal skills, in-depth experience, and positive principles of professional practice to ensure your real estate experience is as positive and beneficial for you as possible.

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