Terms For E

Earnest Money Deposit:

Earnest money deposit is the down payment that is made by a purchaser of real estate to show that he or she is serious about buying the house.

Eminent Domain:

Eminent domain is the right of a government to acquire private for public use on the payment of its fair market value. It is the basis for the condemnation proceeding.

Encroachment:

Encroachment is the presence of an improvement like a wall, a fence or other fixture which overlaps onto the property of an adjoining owner.

Equity:

Equity is a homeowner's financial interest in a property. The difference between the fair market value of the property and the amount still owed on its mortgage and other liens is equity.

Escrow:

Escrow is an item of value, money, or documents which is deposited with a third party to be delivered upon the fulfillment of a condition. For instance, the earnest money deposit is put into escrow until delivered to the seller when the transaction is closed