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flipswarm


FlipSwarm Wiki version 20220222
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flipswarm wiki
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ownership
  deed
  title
    legal vs equitable
  states
    theory
      title vs lien (mortgage)
    recourse vs nonrecourse
    nonjudicial foreclosure
  conveyance

contract
  agents
    buyers: idx
    listing: mls
  title abstractor
  earnest money
    included with offer
    part of down payment
    inspection contingency
  contingencies
    appraisal
      mpr
    inspection
      home (buyer)
      pest (termite)
      mold (stachybotrys)
      lbp / asbestos (1978)
      methamphetamine (lab)
    finance
      preapproval
      certificate of occupancy
    force majeure
  due diligence
    survey &c.

financing
  contracts
    promissory note
      amount / rate / term
      downpayment
    security instrument
      mortgage agreement / deed of trust
      collateral mortgage
  insurance
    title
    homeowners
    pmi: ltv >80% ie 20% down
  renovation: fha 203k
  discharge
    defeasance
    short sale
    recourse clause
    prepayment premium
    deed of reconveyance
    alienation / due on sale
    satisfaction of mortgage
    acceleration / foreclosure
    assumable 1982 garn-stgermain

condition
  county
    assessor (tax)
  municipal / local
    building inspector
    certificate of occupancy
      purpose
      habitability
      code compliance
  lender
    appraiser
    desktop underwriter
      piw / ace
  seller
    material defect
    mandatory disclosures
    pre-listing inspection
  listing verbiage
    as-is
    cash only
    needs tlc
    fixer upper
    movein ready
    tenants rights
    handyman special
    motivated seller
    investment property
    bring your paintbrush
    no seller disclosures
    agent related to seller
    seller has not lived in home
    seller not to provide occupancy
    inspection for information purposes only
  as-is
    normal clauses
    foreclosure / reo
    hud: preappraised
    in its present condition
    sellers choice eg short sale
    nonreliance on representations
    seller will not
      make repairs
      offer concessions
      pay for inspections
      grant closing cost credits
  negligence
    tortfeasor
    duty breach causation

property
  real = fixed (immovable)
  personal
    chattel
    intangible
      cash
      stock
      brands
      patents

asset accounting
  real = tangible
    current = 1yr
      cash
      stock
    non-current = fixed (permanent)
      chattel
      real property
  intangible
    non-current = fixed (permanent)
      brands
      patents
      goodwill

asset investing
  real estate
  equity = stock
  cash & eqivalents  
  fixed income = bonds

takeaways:
  cars are chattel
  all commissions are always negotiable
  real property loans are collateralised
  lender appraisals come in at or above contract 90% of the time
  personal property isnt real but that doesnt make it intangible
  in asset accounting chattel is fixed, & like cash & stock is tangible & real
  in property chattel is not fixed nor real & neither are cash & stock which are also intangible
flipswarm.bot.nu

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