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Listing Agent
The listing agent represents the seller in the property transaction. Seller’s agent receives a commission to market the property for the seller or owner. During the sale process, the listing agent will stage the home, and represent it in the best light. Seller’s agent job is to guide the seller through the entire process including paperwork.
Lien
Lien is an important step in the sale. The future homeowner issues the title company to run the property title for any issues or claims against the property. A lien is a public record attached to a property. The notice states that the creditor claims the owner owes money. Lenders often use it as an assurance that the debt will be repaid.
Landlord
The landlord is an individual or a company renting the property to another for monthly rent. Landlord-tenant laws imply that both parties sign a lease agreement. By the law in most states, the owner can evict the tenant. But, the landlord must abide by the standards of the implied warranty of habitability.
Listing
Listing is a real estate agent’s term for the current property that is advertised for sale. Listing is a legal agreement that the real estate agent or broker can manage a sale of the property and receive a commission for the service. Open listing refers to many agents selling the same property. The exclusive listing gives a single real estate agent the right to handle the property.
Loan to Value Ratio (LTV)
Loan to Value Ratio is a division of mortgage amount and market value of the property. LTV represents the percentage of risk taken by the lender. As the LTV increases, the risks for the lender are also higher. Loan to value is risk-based pricing that can cause higher interest rates for the borrower.