Michael Petruccelli asks; What is effective age?

Michael Petruccelli says;  An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.

Michael Petruccelli asks; What is an encumbrance?

Michael Petruccelli says;  Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions.

Michael Petruccelli asks; What are some tips for first time home buyers?(8)

Michael Petruccelli says;  Popular first-time buyer loans are FHA loans because the minimum down payment requirement is much less than a conventional loan. However, if you are thinking about buying foreclosures, for example, conventional buyers tend to get priority with REO banks.

Michael Petruccelli asks; How do you prevent your pets from taking a bite out of your sale? (3)

Michael Petruccelli says;  Here are some things to keep in mind to make sure your furry little friends don't get in the way of a sale! Is Fido taking a bite out of your sale? Dogs and cats in particular like to scratch and chew. Nervous dogs will scratch doors, floors, door frames, walls, carpet and even chew furniture.

Michael Petruccelli asks; What is a foreclosure?

Michael Petruccelli says;  The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.