Dictionary

Blanket Mortgage

Definition: One debt instrument covering two or more parcels. Pronunciation: \ˈblaŋ-kət\\ˈmȯr-gij\ Used in a Sentence:   The buyer took out a blanket mortgage to pay for the two adjoining parcels of land.

Bi-weekly Mortgage

Definition: A mortgage loan amortized the same way as other loans with monthly payments, except that the borrower makes a payment every two weeks. Pronunciation: Used in a Sentence: By having a...

Binder

Definition: A document given subject to the writing of a formal contract for sale, usually acknowledging receipt of a portion of the down payment for the purchase of real property. Pronunciation: \ˈbīn-dər\...

Bilateral Contract

Definition: An agreement in which both parties are legally obligated to each other to perform. Pronunciation: \(ˌ)bī-ˈla-t(ə-)rəl\ Used in a Sentence:   Once an offer was accepted, the seller was obligated to complete...

Biennium (biennial)

Definition: A two-year period. Pronunciation: \bī-ˈe-nē-əm\ Used in a Sentence:  A real estate license has a biennial renewal period.

Before-tax Cash Flow

Definition: The resulting amount when annual debt service is subtracted from net operating income.  Also called gross spendable income or cash throw off. Pronunciation: Used in a Sentence:  Our before-tax cash...