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A property owner who does not live in the area in which a property is located. Also a good source for potential leads.
Affordable Market Value (AMV)
The Federal Deposit Insurance Corporation (FDIC) defines affordable market value as the amount a buyer or tenant can pay to purchase or rent a property based on their income, not necessarily the appraised value of the property.
After Repair Value (ARV)
The value of a property after repairs are made. ARV usually refers to the value of the property after it has been brought to a level comparable with other properties for sale in the area, but can simply indicate the value of a property after planned repairs are made. Investors must be certain to verify all parties mean the same thing when using the term.
Annual Percentage Rate (APR)
The annual rate charged on borrowed money or earned through an investment. APR is usually expressed as a percentage representing the actual yearly cost of the funds over the term of a loan.
An expert valuation of a house by a qualified appraiser.
The value of a residence, usually for tax purposes. This value should involve comparable home sales in the area and property inspections, and is used to calculate property taxes. These are not always up-to-date.
A collection of laws, strategies, and practices that make it difficult for one party to abuse the legal system to take things from another party.