Real Estate
Glossary
This glossary has been provided to help Colorado Springs
homebuyers understand the unique language
of the real estate business.
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Ratios:
This is a kind of calculations. These are used in determining
whether a borrower can qualify for a mortgage or not .Qualifying
Ratios consist of two separate calculations: one is a housing
expense as a percent of income ratio and another is the total
debt obligations as a percent of income ratio.
Quitclaim Deed:
This is a deed of conveyance operating as a release; intended
to pass any title, interest, or claim which the grantor may have
in the property, not professing that such title is valid, nor
containing any warranty or covenants for title.
Quiet Title:
By means of a court action when someone makes the title free
to a piece of land from the claims of other persons, it is called
quiet Title. The court decree obtained is a "quiet title" decree.
Qualify:
Qualify means to meet a mortgage lender's approval requirements.
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