by Ethan Atkinson | Feb 6, 2026 | P-T, PropertyPedia
In real estate finance, a prepayment penalty is a charge imposed on a borrower for paying off a loan before its scheduled maturity date. The penalty is typically specified in the note, mortgage, or deed of trust. Prepayment penalties are intended to compensate the...
by Ethan Atkinson | Feb 6, 2026 | P-T, PropertyPedia
In real estate transactions, prepaid items are property related expenses that have been paid in advance by one of the parties. These expenses commonly include property taxes, insurance premiums, rent, and similar charges. At the time of sale or closing, prepaid items...
by Ethan Atkinson | Feb 6, 2026 | P-T, PropertyPedia
In real estate finance, prepaid interest is interest that is paid in advance of the period for which it is due. It commonly occurs at loan closing to cover interest from the funding date to the start of the first regular payment period. Prepaid interest ensures that...
by Ethan Atkinson | Feb 6, 2026 | P-T, PropertyPedia
In real estate transactions, a preliminary title report is a document that outlines the current condition of title to a property prior to a sale or loan closing. It identifies the vested owner and discloses recorded liens, encumbrances, easements, and other matters...
by Ethan Atkinson | Feb 6, 2026 | P-T, PropertyPedia
In real estate and construction, a prefabricated house is a dwelling that is manufactured in whole or in part at a factory before being transported to the building site. Some components may be partially assembled prior to delivery, with final construction completed on...
by Ethan Atkinson | Feb 6, 2026 | P-T, PropertyPedia
In real estate finance, a power of sale is a provision in a mortgage or deed of trust that authorizes the mortgagee or trustee to sell the property if the borrower defaults on the loan. This clause provides a contractual remedy for the lender without requiring court...
