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Meaning / Definition of
Abnormal Sale
Categories: Credit and Debt, Real Estate,
A sale that does not represent a market transaction. If, for example, a house sells for $100,000 on a street where similar houses sell for $200,000, then the first home would be considered an abnormal sale. An appraiser may choose to disregard abnormal sales when selecting similar properties to compare values.
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Definition / Meaning of
Home Equity
Categories: Credit and Debt, Real Estate, Legal, ,
The current market value of a house minus how much is owed on it. A home equity loan borrows against this amount.
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