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We Buy Houses Glossary - T

Tangible Property
It’s the real estate or any other property of value which can be seen and touched.

Tax Base
It’s the total value of property, income, or any other taxable assets subjected to taxation.

Tax Certificate
A tax stimulated by some state or local governments at the time of transmittance of real estate title from one owner to another. For our comparison purposes, these fees are considered to be a tax or other inevitable fee.

Tax Service Fee
A fee charged to a borrower by a lender so that a different company will presume conscientiousness for verifying the amount of real estate taxes due and the taxes that have been paid over the life of the loan. For comparison purposes, a tax service fee is considered to be a third party fee where some lenders may not charge for this service.

Taxes and Other Unavoidable Fees
Fees that are considered to be taxes and other unavoidable fees that includes State/Local Taxes and recording fees. These fees are mostly to be paid regardless of the lender of choice. It’s the tax or recording fee in the fee comparison table that is listed by some of the sites and that don't assume to be repaid. It perhaps means that the lender who doesn't list the fee hasn't done the research required to present precise concluding cost information universally. The sites directly provides more information to the real estate agent or attorney for guidance.

Title
It’s a document that is framed to give proof of an individual's ownership on a particular property. It’s a legal written instrument evidencing a person's lawful possession of a property.