New York Real Estate Glossary M
(Model Furnishings - Multiple Offers)
A1 | A2
| A3 | A4 | B1 | B2 | B3
| C1 | C2 | C3
| D1 | D2 | E1
| E2 | F1 | F2
| F3 |
G1 | G2 | H1
| H2 | I1 | I2
| J | K | L1
| L2 | L3 | M1
| M2 | M3 | N
| O1 | O2
| P1 | P2 | Q
| R1 | R2 | S1
| S2 | T1 | T2
| U | V1 | V2
| W1 | W2 | X
| Y | Z
Interior furnishing included in a model unit, which are chosen to highlight
the features of the model unit to show it to its best advantage.
Model Unit (Home)
A representative home, apartment, or office space used as part of a
sales campaign to demonstrate the design, structure and appearance of
units in a development.
Document which specifies a specific amount of money, which is to be
used for purchase of a home, using the property as collateral, whereupon
a lien is placed on the property as security for repayment of the debt.
Mortgage Acceleration Clause
Provision in a mortgage, which gives the lender the right to demand
repayment of the entire loan, under certain circumstances, such as default,
property sale, change of title, or refinance.
Repayment of a loan on a scheduled installment basis.
A company that receives payment from a lender for matching the lender
with borrowers who meet the lender's criteria.
More than one dwelling unit sharing a common wall and roof.
Arrangement where the real estate listings of many local agents are
Multiple Listing Service (MLS)
Service combining the listings, in one database, of all the available
homes, except those being sold by the owner, in a specific area.
More than one offer to purchase a property, which usually occurs in
a seller's market.