Miami Office:
4000 Ponce de Leon Blvd
Suite 470
Coral Gables, Florida 33146

Phone: (305) 777-0482
Fax: (305) 675-3271

Boca Raton Office:
6111 Broken Sound Pkwy NW
Suite 330
Boca Raton, Florida 33487

Phone: (561) 443-7124
Fax: (561) 431-0419

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    B Paper/B Loan
    A loan structure that is labeled as subprime or a ‘C’ or ‘B’ class loan. It is linked to those borrowers who have limited or tainted credit histories.

    Back End Ratio
    A special ratio that helps you compare the sum of all the monthly liability/debt payments (real estate insurance and taxes, mortgage, consumer loans, car loans) to the net monthly income.

    Back to Back Escrow
    Arrangements or agreements that a certain owner makes for overseeing the transaction of a property as well as the simultaneous procurement of another property.

    Balance Sheet
    A complete statement of the financial condition at a certain date.

    Balloon Mortgage
    A note that calls for all the recurring payments that aren’t enough to completely repay the note’s face amount before maturity; hence a principal amount referred to as a “balloon” is outstanding at maturity.

    Balloon Payment
    The total payment that is due when a balloon mortgage ends.

    Basic Rate
    A certain rate that is charged from a consumer or buyer who doesn’t qualify for a discounted rate.

    The monetary interest a person has in some property for tax-related objectives. It is regulated down via depreciation and adjusted up via capital improvements.

    A report that a certain title insurance firm issues, in which it sets forth the regulations and conditions pertaining to the title and conditions that will produce a title insurance policy to be released if those conditions are fulfilled or satisfied. It is also referred to as “title commitment”.

    Biweekly Payment Mortgage
    A mortgage that is paid two times in a month, rather than just once. It reduces the interest rate that you have to pay on a loan you took.

    Board Approval
    A condition set in the contract of co-operative sales that requires the buyer to acquire consent from the co-operative corporation’s board of directors as a precondition to complete the sale.

    A person who can receive a certain loan but has to reimburse it along with any extra charges as per the terms of the loan.

    Bridge Loan
    A special loan taken for a short period, which can be utilized when a person is procuring a certain property, but is relying on the funds that will be generated from another real estate that hasn’t been sold yet. After that certain estate is sold, the bridge loan is repaid.

    A party or an individual that arranges different transactions between buyers and sellers for commissions that are provided to the broker when deals are executed. If a broker acts as the buyer or seller in a deal, they become the principal party in that deal.

    The commission or fee that has to be paid to the broker.

    A three to five story townhouse, which is named “brownstone” because of the brown stones used to fashion the house’s façade. It can be in the form of a single house or can have several smaller apartments. The first brownstones were built sometime during the nineteenth and twentieth centuries.

    A complete record containing all the income that is earned as well as spent in a certain period.

    Building Code
    A code is based on the safety standards that have been agreed upon within a certain area. They determine the construction, design and the materials that will be used for constructing a building.

    Buy Down
    The intended paying of the discount or reduction points by a certain borrower for the purpose of reducing the mortgage interest amount at the point the loan is taken.

    Buyer’s Agent
    A property agent or broker who represents the interests of a certain buyer. The fee of the buyer’s agent is extracted from that of the commission of the listing broker. They are also referred to as “selling agents”.

    Rules according to which the condominium or the co-operative corporation functions, including the regulating authorizations, officers and elections.