by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, a note is a written, unilateral agreement in which the signer makes an express and unconditional promise to pay a named person or entity a definite sum of money. The note specifies the amount owed, the repayment terms, and the date or schedule...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate transactions, a notary public is a public officer appointed by the state who is authorized to witness the execution of legal documents. The notary verifies the identity of the persons signing the documents and confirms that the signatures are made...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, a non-recurring expense is a cost that is not expected to occur on a regular or ongoing basis. It arises from unusual or extraordinary events rather than normal property operations. Examples of non-recurring expenses include costs resulting...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, a non recourse loan is a loan in which the lender’s only security for repayment is the property pledged as collateral. If the borrower defaults, the lender may take possession of the property but cannot seek a deficiency judgment against the...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, the nominal interest rate is the rate of interest that is stated in a loan agreement or promissory note. It represents the contractual rate used to calculate interest on the loan balance. The nominal interest rate does not take into account...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate brokerage, a net listing is a type of listing agreement in which the seller specifies a net amount to be received from the sale of the property. Any proceeds above that agreed upon net amount are retained by the real estate broker as compensation. Net...
