Spencer Group Inc., Realty Brokerage's blog

Available Funds:

This term has been used in the process of applying for mortgages.
It means all available or collected funds, including prepayments, servicer advances, etc.

At Grade

Identifies the height or elevation of the primary loading docks on the building.

“At grade” refers to a door level with the ground at the foundation of a building.

Assumption Fee (Loan Quote)

It is a fee, paid to the borrower or lender, for the paperwork and processing of records necessary

to approve and document a new debtor.

The assumption fee is usually calculated as a percentage of the outstanding mortgage balance.

Assisted Living:

This is a more and more popular area of real estate with social housing.

A healthcare subtype provides apartment-style accommodations where services focus

on assisting with daily living activities.

These facilities are designed to bridge the gap between independent living and nursing home care, and provide a higher level of services for their residents, including meals, housekeeping, medication assistance, laundry, and regular check-ins.

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Annual Rent

Identifies the total annual rent, or base rent, paid by the tenant to the lessor.

Components of Annual Rent:

1. Base Rent:

This is the fixed amount agreed upon in the lease that must be paid monthly. For example, if a lease specifies a base rent of $2,000 per month, the annual rent would be calculated as follows:

Annual Rent = Base Rent×12=2,000×12=24,000

2. Additional Charges:

In many leases, tenants may also be responsible for additional costs beyond just base rent. These can include utilities, maintenance fees, property taxes, and other charges specified in the lease...

Anchor: Identifies whether the tenant is an anchor tenant.

An anchor tenant is a well-known commercial business, such as a national chain store, regional department store, or A Fortune 500 company, strategically placed in a shopping center or other commercial building.

An anchor tenant's quality often decides the value of the income property.

Amortization:

Identifies the loan amortization that is being quoted (in years); the period over which principal and interest payments are scheduled. For example, a loan with a 10-year term and a 25-year amortization will have a balloon payment at the end of 10 years.

Also, the maximum number of periodic installments (expressed in years) over which repayment of a mortgage debt is calculated; a portion of each payment consists of a blend of interest and amortization of principal.

All Paved - Road Surfaces

Identifies all of the road surfaces as being paved with macadam, concrete, cement or other similar surfacing.
Paved road surfaces are essential in the valuation of commercial properties.

Commercial mortgage glossary:
All Exterior Guest Corridors:
Identifies that all of the corridor area(s) through which guests gain access to sleeping rooms are exterior (e.g. walkways that are subject to weather conditions). (Motels).

All Interior Guest Corridors:
Identifies that all of the corridor area(s) through which guests gain access to sleeping rooms are interior and enclosed (e.g. walkways that are not subject to weather conditions). (Hotels.)

Advertising & Marketing:

An expense line item that includes expenses for advertising, promotion, sales, publicity managers, secretaries and clerks and all related printing, stationary, artwork, magazine space, broadcasting, and postage related to marketing.