 A building that houses more than one family in separate living units.

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Presentation transcript:

 A building that houses more than one family in separate living units

 A building that houses more than one family; each person owns walls and air space of the unit

 A person buys shares in a corporation that owns the property; owners pay fees for maintenance and service costs, building mortgages, and taxes;  co-op determines management, restrictions, and operating policies

 A custom-built, development, modular, or kit house or townhouse

 A single-wide or double-wide moveable home

 A building that contains two separate living units

 A dwelling of two or three stories that attaches at sidewalls to other units; each person owns walls and air space plus property rights and yard of the unit.

 A living space on college/university campuses available to attending students only.

 To pay a security deposit and monthly payments to a landlord.

 To purchase with cash or through a down payment plus monthly mortgage loan payments.

 Tasks involved in keeping a home livable and functional--- cutting grass, changing light bulbs, making minor repairs, painting, cleaning gutters.

 The ability to move quickly and easily

 Ownership; the value of property owned

 Any condition that qualifies a person for a tax credit or deductible expense

 A legal agreement between a landlord and a tenant stating terms agreed upon by both

 A person who leases or rents a living space

 A person who owns a living space that is rented/leased; a landlord

 Money paid by lessee to lessor in advance of occupancy of living space; used to pay costs of any damages done to property while occupied

 When a tenant finds another person to live in his/her leased space

 Any stipulation or requirement that is agreed upon in a lease

 A legal notice to a lessee to move out of a property

 Newspaper ads showing available homes for sale

 An opportunity for interested buyers to walk through a home that is for sale

 A professional person who buys and sells homes

 A deposit to prove that a buyer is serious about purchasing

 Any condition that must be met in order for a home buying deal to occur

 Part of the purchase price for a home that is paid in cash up front

 The final step in buying a home where conditions of purchase are met; all parties must be present---buyer, seller, lender, real estate agent, attorney

 Fees that must be paid by buyer or seller at the time purchase is finalized

 Mortgage payments paid by the buyer to the lender each month

 Property tax, insurance, and associated fees

 Money in a bank account held in trust to pay taxes and insurance when due

 Interest rate and monthly payment amount remains the same for the life of the loan

 Interest rate changes to reflect changes in economy; may change yearly; monthly payment will increase

 A loan from Federal Housing Administration; insures loans to low- and moderate-income families who might not otherwise qualify for a mortgage

 A loan from Veterans Affairs; insures loans to people who have served in the military, with no down payment required