David Freeman
Broker/Owner
Cell: 270-559-2727
Office: 270-559-2727
Toll-Free: 800-455-5590
Home: 270-898-6081
Email: freemandavid@hotmail.com

RE/MAX Realty Group
2131 Ohio Street
Paducah, KY  42003

Frequently Asked Questions

What is an ad valorem tax?
What is affordable housing?
What is the annual percentage rate?
What is a Arm’s Length Transaction?
What is Attorney-In-Fact?
What is an Attorney’s Opinion of Title?
What is a Benchmark?
What is a Bungalow?
What is Caveut Emptor?
What is Closed Period?
What is a Commitment Letter?
What is Community Property?
What is a CMA?
Do all Real Estate Brokers charge the same amount of commission?
What is a valid contract for the sale of real estate?
What is a Dutch Auction?
What is equitable title?
What is Exclusive Right to Sell Listing?
What is Exclusive (Agency) Listing?
What is Joint Tenancy?
What is a Kick-Out Clause?
What is a Land Contract?
What is Market Value?

What is an ad valorem tax?
Answer: A tax based on the value of the thing being taxed. Cities, counties, and school districts raise most of their revenue from ad valorem taxes on real estate.
What is affordable housing?
Answer: A general term applied to public and private sector efforts to help low and moderate income people purchase homes. Usually the programs offer lower down payments, easier qualifying rules, and some below-market interest rates.
What is the annual percentage rate?
Answer: The effective rate a loan per year, disclosure of which is required by the Truth-in Lending Law. The effective rate will most always be shown higher than the stated rate because of the discount points and other lender add on charges will be included to raise the effective rate of the loan. ">Answer: The effective rate a loan per year, disclosure of which is required by the Truth-in Lending Law. The effective rate will most always be shown higher than the stated rate because of the discount points and other lender add on charges will be included to raise the effective rate of the loan.
What is a Arm’s Length Transaction?
Answer: A translation among parties each of whom acts in his or her own best interest.
What is Attorney-In-Fact?
Answer: One who is authorized to act for another under a power of attorney, which may be general or limited in scope.
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What is an Attorney’s Opinion of Title?
Answer: A written statement/letter by an attorney after examination or the public records, that in his or her opinion the condition of the title and what risks are involved in accepting such title. Note: a title opinion is not the same as title insurance.
What is a Benchmark?
Answer: A permanently affixed mark which establishes the exact elevation of a place. This is used for surveyors in measuring site evaluations or as a starting point for surveys.
What is a Bungalow?
Answer: A small early-twentieth century style one story house.
What is Caveut Emptor?
Answer: “let the buyer beware” The buyer must examine the property and buy at his or her own risk. The opposite would be Caveut Venditor “let the seller beware” which is the doctrine governing the sale of something which the seller could be liable if it found to be defective.
What is Closed Period?
Answer: The term during which a mortgage cannot be prepaid without a penalty.
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What is a Commitment Letter?
Answer: an official notification from a lender to a borrower indicating that the borrower’s loan application has been approved and stating the terms of the prospective loan.
What is Community Property?
Answer: property accumulated through joint efforts of a husband and wife and owned by them in equal shares.
What is a CMA?
Answer: an estimate of the value of property using only a few indicators taken from sales of comparable properties. These value estimates are not appraisals.
Do all Real Estate Brokers charge the same amount of commission?
Answer: No, as commissions can be negotiated between a seller and his or her agent.
What is a valid contract for the sale of real estate?
Answer: To have a valid contract there must be an offer, an acceptance, competent parties, consideration, legal purpose, written documentation, description of the property, signatures by principles or their attorney-in-fact.
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What is a Dutch Auction?
Answer: A bidding process in which the asking price is gradually lowered until someone places a qualifying bid.
What is equitable title?
Answer: The interest held by one who has agreed to purchase but has yet closed the transaction.
What is Exclusive Right to Sell Listing?
Answer: Employment contract giving the broker the right to collect commission if the property is sold by anyone including the owner, during the term of the agreement.
What is Exclusive (Agency) Listing?
Answer: Employment contract giving only one broker, for a specified time, the right to sell the property and allowing the owner to sell the property without paying a commission.
What is Joint Tenancy?
Answer: ownership of Realty by two or more persons, each of whom have a undivided interest with the right of survivorship. Typically used by related persons.
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What is a Kick-Out Clause?
Answer: A provision in a Sales Contract that allows the seller to void the agreement if a better offer is received before the sale is closed.
What is a Land Contract?
Answer: A real estate installment selling arrangement whereby the buyer may use, occupy and enjoy the land, but the seller gives no deed until all or a specified part of the sale price has been paid.
What is Market Value?
Answer: The highest price a buyer, willing but not compelled to buy would pay, and the lowest price a seller, willing but not compelled to sell, would accept.
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