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N

NATIONAL ASSOCIATION OF REALTORS^® (NAR)

A real estate trade organization that sets the standards for integrity and honesty within the real estate profession nationwide

Negative amortization

A gradual increase in the balance of a loan or mortgage which occurs because the monthly payments made are too small to cover the entire principal and interest charges; this shortfall amount is added to the remaining balance, resulting in negative amortization

Net listing

The advertisement of the price of property for sale in terms of the net price the seller will receive, once the property is sold, a type of listing which is illegal in many states

Net worth

The total value of all of an individual's assets, minus all liabilities or debts

No cash-out refinance

A transaction for refinancing a mortgage in which the new mortgage amount is limited to the sum total of the remaining balance of the first mortgage, points, closing costs, whatever is required to satisfy any liens that are more than one year old and other funds for the borrower's use (as long as the amount is one percent or less of the principal amount of the new mortgage)

Notary

An individual authorized by law to certify documents and signatures

Note

A legal document that obligates a borrower to repay a loan or owed sum of money at a stated interest rate over a designated period of time

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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Closing or Settlement >A Smooth Closing

If you are in the process of moving from a home you lived in for years, you might be amazed at what lies beneath all your home furnishings! You might stand in your empty house as the moving van pulls away, staring at piles of dust bunnies and years' worth of grime that you didn't know was there. You are tired, and the last thing you feel like doing is scrubbing your house for the new owners. But leaving your home impeccably clean is one of the most important things you can do to ensure a smooth closing.

Your buyers will do their "walk-through" before the closing to make sure that all the systems of the home are in working order and that the agreed-upon repairs were made. They will feel good about the whole process if they walk into a spotless house. This will be their last opportunity to experience an attack of buyers' remorse, and your efforts can minimize any second thoughts they may be having or any crankiness about issues that must be resolved at the closing. If you are not inclined to do the cleaning yourself, hiring a professional cleaner will be worth the investment.

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Q	What famous person said this? "Real Estate is the best investment in the world because it is the only thing they're not making anymore!"
A	Will Rogers, who began his career as a rope-throwing cowboy and later became a famous stage and film star.
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Christina Danley, REALTOR®, real estate agent and broker for Carmel, Pebble Beach, Pacific Grove and Monterey, California home listings, property and land for sale - NUMBER1EXPERT

Christina Danley
Sotheby's International Realty
200 Clocktower Suite 100D
Carmel, CA 93923
Cell: 831-601-5355
Fax: 831-855-0210
christina.danley@sothebyshomes.com
Christina Danley ranked in the top 5% for all Monterey Peninsula Sotheby's Real Estate Agents in 2009, and top 20% for 2008. Christina has been a broker associate since 1987. Christina earned the Certified Residential Specialist (CRS) designation, which distinguishes a higher level of education in real estate and a professional affiliation affording up-to-the-minute industry information and local market knowledge. She is the proud receiver of the John Leo Award, in recognition of top sales volume within the Monterey County Association of Realtors, for 1998. She holds a lifetime limited service credential for California Community Colleges and was honored with the Papa Vince award for excellence in hospitality.

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