Prudential Pacific Properties

Word!

Assessor

A public official who establishes the value of a property for taxation purposes.

Moving anytime soon? Are the movers you hired confusing you with words you've never heard before?

ACCESSORIAL (ADDITIONAL) SERVICES - services such as packing, appliance servicing, unpacking, or piano stair carries that you request to be performed (or are necessary because of landlord requirements or other special circumstances). Charges for these services are in addition to the transportation charges.

ADVANCED CHARGES - charges for services not performed by the mover but instead by a professional, craftsman or other third party at your request. The charges for these services are paid for by the mover and added to your bill of lading charges.

AGENT - a local moving company authorized to act on behalf of a larger, national company.

APPLIANCE SERVICE - preparation of major electrical appliances to make them safe for shipment.

BILL OF LADING - the receipt for your goods and the contract for their transportation. It is your responsibility to understand the bill of lading before you sign it. If you do not agree with something on the bill of lading, do not sign it until you are satisfied that it is correct. The bill of lading is an important document. Don't lose or misplace your copy.

BINDING/NON-BINDING ESTIMATE - a binding estimate is an agreement made in advance with the mover that guarantees the total cost of the move based on the quantities and services shown on the estimate. A non-binding estimate is the carrier's approximation of the cost based on the estimated weight of the shipment and the accessorial services requested. A non-binding estimate is not binding on the carrier and the final charges will be based on the actual weight and tariff provisions in effect.

CARRIER - the mover providing transportation of your household goods.

C.O.D. - transportation for an individual shipper for which payment is required at the time of delivery at the destination residence (or warehouse).

EXPEDITED SERVICE - an agreement with the mover to perform transportation by a set date in exchange for charges based on a higher minimum weight.

FLIGHT CHARGE - an extra charge for carrying items up or down flights of stairs.

GUARANTEED PICKUP AND DELIVERY SERVICE - an additional level of service whereby dates of service are guaranteed, with the mover proving reimbursement for delays. This premium service is often subject to minimum weight requirements.

HIGH VALUE ARTICLE - items included in a shipment that are valued at more than $100 per pound.

INVENTORY - the detailed descriptive list of your household goods showing the number and condition of each item.

LINEHAUL CHARGES - charges for the vehicle transportation portion of your move. These charges apply in addition to the additional service charges.

LONG CARRY - an added charge for carrying articles excessive distances between the mover's vehicle and your residence.

ORDER FOR SERVICE - the document authorizing the mover to transport your household goods.

ORDER (BILL OF LADING) NUMBER - the number used to identify and track your shipment.

PEAK SEASON RATES - higher linehaul charges that are applicable during the summer months.

PICKUP AND DELIVERY CHARGES - separate transportation charges applicable for transporting your shipment between the SIT warehouse and your residence.

SHUTTLE SERVICE - use of a smaller vehicle to provide service to residences that are not accessible to the mover's normal, larger linehaul equipment.

STORAGE-IN-TRANSIT (SIT) - temporary warehouse storage of you shipment pending further transportation, for example, if your new home isn't quite ready to occupy. You must specifically request SIT service, which may not exceed a total of 90 days of storage, and you will be responsible for the added charges for SIT service, as well as the warehouse handling and final delivery charges.

TARIFF - the mover's required, published price list of rules, regulations, rates and charges for the performance of interstate moving services.

VALUATION - the degree of "worth" of the shipment. The valuation charge compensates the mover for assuming a greater degree of liability than that provided for in the base transportation charges.

WAREHOUSE HANDLING - an additional charge applicable each time SIT service is provided. This charge compensates the mover for the physical placement and removal of items within the warehouse

http://www.vanlines.com/moving_tips/rights_responsibilities.asp#glossary

Word!

Assessment

The placing of a value on property for the purpose of taxation.

Word Up

Assessed Value

The valuation placed on property by a public tax assessor for purposes of taxation.

Word O' The Day!

Assessed Value

The valuation placed on property by a public tax assessor for purposes of taxation

Word Up...

Appreciation

The increase in the value of a property due to changes in market conditions, inflation, or other causes

Word Up...

Appraiser

An individual qualified by education, training, and experience to estimate the value of real property and personal property. Although some appraisers work directly for mortgage lenders, most are independent.

Appraiser - Word Du Jour

Appraiser

An individual qualified by education, training, and experience to estimate the value of real property and personal property. Although some appraisers work directly for mortgage lenders, most are independent.

Put your learning caps on for todays word...

Appraised Value

An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property. Since an appraisal is based primarily on comparable sales, and the most recent sale is the one on the property in question, the appraisal usually comes out at the purchase price

uh-prey-zuhl (Your word of the day)

Appraisal

A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.

Listen up class, It's time for your word o' the day!

Annual Percentage Rate (APR)

This is not the note rate on your loan. It is a value created according to a government formula intended to reflect the true annual cost of borrowing, expressed as a percentage. It works sort of like this, but not exactly, so only use this as a guideline: deduct the closing costs from your loan amount, then using your actual loan payment, calculate what the interest rate would be on this amount instead of your actual loan amount. You will come up with a number close to the APR. Because you are using the same payment on a smaller amount, the APR is always higher than the actual note rate on your loan

A is also for...

Amortization schedule

A table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan. It also shows the gradual decrease of the loan balance until it reaches zero.

Now try to use this this in a sentence today!

A is for...

Amortization

          The loan payment consists of a portion which will be applied to pay the accruing interest on a loan, with the remainder being applied to the principal. Over time, the interest portion decreases as the loan balance decreases, and the amount applied to principal increases so that the loan is paid off (amortized) in the specified time.

Which is our Real Estate Term for the day!

Learn a new Real Estate Term with me!

A new feature to our Blog, each day we will learn a new Real Estate Word together, Learning is FUN!

Todays word...

Acceleration clause A clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. The most common reasons for accelerating a loan are if the borrower defaults on the loan or transfers title to another individual without informing the lender.