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Show yiocky Mountain A' J t I W 5 4 Learn The Lingo, Youll Find Home Buying Easier .4 -- 2V YOUR OFFER INVITED 4 bedroom, 3 baths, 2 fireplaces. Notural wood cabinets and built-in- s. Out of town owner invites offers this week for spectacular or evenings saving. Call and Sundays 0, ; 359-37359-536- 0 57 467-793- 0, 363-217- 4. 857 EA9TjOURTH Call SOUTH 2. Utah or Eves 4 Sun 359-53- s . - i EAST CHOICE FEDERAL HEIGHTS LOCATION 0 Ped Ken Olsen 277-96- Ideal location near Skyline, Wasatch and East Millcreek schools. 3 bedroom, two level brick home. Carpeting in living room and two bedrooms. Near new living room drapes. Beautiful landscaping. 14 467-69- 01 $17,950 Woodbury Realtors Eves. REDUCED (Jiiui Stemihp allot 421 SOUTH PHONE i p-- 4 or a right MILLCREEK bedrooms, 3 l2aths, living room J"ith fireplace, plus atnlng room area. 2 car garage. in $30,000 or bracket. Call Bud Brown 4 J F A L T O 484-75- R 486-12- 711 STREET DA i Cr. Theao-polntme- 96 22 - 3 HU HU4-I59- 5. HU5-947- 278-122- 0, REALTY on the property of J ? J? The transfer of ownership of property to a party, usually a bank or a loan company, as security for the payment of a loan. The mortgagee holds the mortgage, the mortgagor conveys It. The right to buy a OPTION: property at a designated price for a specified period of time. RESTRICTIVE COVENANT: A clause In a deed which limits the use of the property Involved In some manner. TITLE: Evidence of owner t nt it VUl!' ' fit ' DRIVE BY 2059 4365 South East Excellent Holladay area. Close to schools and shopping. Move In with low down payment. 3 bedrooms, completely landscaped with sprinkling system. New carpets and drapes. Call HU4-025- ship. TITLE INSURANCE: An In surance policy which protects the holder against any loss arising from defects in the title. Title Insurance or an abstract of title Is always required In a real estate CR7-201- 4, HU 8, CR7-255- 1, 85. GUMP AND AYERS REALTORS Victor Ayer 277-255- 1 T IN TELEPHONE 9444 dKm . , - MM bar, 2 fireplaces, lovely recreation room in basement, carpeted, draped. Sprinkler system, fenced yard, large patio and double garage. Giant oak trees. Excellent location close to shopping, bus and all schools. Will sell at FHA appraisal of $29,500. SPARKLING NEW large bedrooms, 2 tiled baths, brick veneer, quality throughout. Low down payment, $21,950. 3 ZONED terms. Call 466-217- 2901 E. 33rd SOUTH 6 Evenings call INSURANCE East 33rd South Salt Lake City. Utah hU HU or HU 277-456- Evenings 1. REALTY 1515 3 22 Jones Realty ymfui CO. B-- Carrbe used for Real Estate office, Insurance, Beauty Parlor, etc., or can have office and rent out office sace. Living quarters at back if desired. 1500 squar e feet on truln floor. Full basement. Only $15,950 7. 110 0 ,ii ft I 466-10- AND CONSTRUCTION 486-137- el, 2768 South 27th East. Main floor has $22,950. Owner built new home, ..wants all offers presented. Cnll and Evenings Phone CHOICE FAMILY HOME 3 bedroom brick Modern, split-levin Mt. Olympus acres at 3745 Adonl3 snack Dr. (4140 South). All built-in- s, FAMILY bedrooms, dining area and large kitchen. Full finished basement, 2 bedrooms, huge rumpus room. Nice utility room and storage area. Professional landscaped-sprinklin- g system, double garage. Asking LAKS CITY UTAH 4ai vU LOVELY HOME FOR LARGE SALT a bS Si MrMwZ 330 SO HOS MAST MORTGAGE: fied period of time. FHA: Federal Housing Au thority; an agency of the federal government that insures home loans. A claim which one LIEN: W0 331 room. title or real estate y ' .j 6-9- Nestled at the foot of Mt. Olympus -scrub oak. Large family room. 3 large bedroom?, 2 baths, formal dining another. A lien secures or guarantees the payment of a debt such as a mortgage or a tax. broker as exclusive agent for sale of a property for a speci- EM4-432- 1 '' . 2XC LUSIVE LIS TIN - mmmn SPECTACULAR VIEW party has of way. of one East on South Temple j.. - frank Y sum EQUITY: The amount of actual cash an owner has over and above a mortgage as ownership in his property. A deed,, placed In ESCROW: the hands of a third party, not connected with a transaction, to be held until some specified condition Is satisfied. TO n MAIN A way. A claim ENCUMBERANCE: which one person has on the property of another such as a Hen, a judgement, unpaid taxes - - MONEY: paid to the seller of a house as part of the down payment at the time an offer Is made to demonstrate good faith. EASEMENT: Certain privi leges which one person has over the property of another, such as, usually, a right of Wn'' J' ! m ' . I m Kiim Hr if mm The baffling part of buying or selling a house Is the paperwork. Us never simple. Each document has a long confusing name and Is filled to the fine prln with even longer terms. The fundamental choice Is whether to appear stupid and ask what all those words mean to pretend you know, stroke your c h 1 n , look wise and hope everything comes out alright the end. Your realtor Is the expert to help you through the paper mare. So that you can converaDj-Intelligen- tly with him, your friends, the buyer of your home, his realtor and your spouse - theyV Rocky Mountain Review presents below a handy list of real estate terms. Take it Into a quiet corner somewhere, and emerge with that smug glow that comes from the satisfaction of a little knowledge. ABSTRACT OF TITLE: The property, Including all deeds purposes. In S< LakeusuaUy about 15 to 20 per cent of Its and changes of ownership and complete story. of a piece of a statement of the Hens, chactual value. CLOSING STATEMENT: The arges or encumbrances. FOR An estimate of APPRAISAL: accounting of funds Involved In a real estate transaction the value of a property, us- made by the broker to the ually made by a bank or an seller and buyer. Independent appraiser, to deHOME LOANS termine the amount that a DEED: The piece of paper in SEE bank will loan on a property. which the seUer transfers the The ASSESSED VALUATION: ownership of a house to the MILLER & VIELE amount the government says buyer. To be effective It must 15 Exchang IM Plot a house is worth for taxing be properly executed and sealed. 4 EARNEST jV iV.:,- - V2 tea Salt Lake City I & Investment 1568 South 11th CODV CAMP 08 East HOME OFFICE 2141 LINCOLN LANE (4119 SO BROKER PHONE CR 7 7516 SALT LAKE CITY 17 UTAH i. 2 4 if OUR BEST BUY bedrooms main floor, 2 baths, living and dining rooms. Newly decorated;wlth brand new carpets and drapes. 4 : ! Gorgeous FERRELAND TOP SCHOOL AREA - I 1 ft W I ' IR CONDITIONING - Finished recreation room, new drapes 1 jtrpeting, completely redecorated. 3 bedrooms, 34 baths. SELL $21,950 OWNER TRANSFERRED-MUS- T Oversized master bedroom plus 2 more, 2 12 baths, kitchen built ins, dining room, quality carpeting throughout, air conditioned, covered patio, garage, landscaped, fenced. Walk to all schools or shopping. $26,950 cash, terms, or trade. Call Emma 278-17- 00. Just off $ This is a new concept in subdivisions. All homes pletely different and designed for individual tastes. 3 , Bedrooms. are com- 2 Baths, Full Basement, Double Attached Garages. $23,000 to $24,000 WILL TRADE LOREN FERRE 51 or 485-389- 5 E. 3rd South 363-264- For appointment call Bob Wilkinson, Jr. RE ALTO R 1 278-844- 4 , 3641747 DOXEY 'A Builders own home, luxurious 5 bedroom, brick, carpeted living room, 14 x 20 all electric kitchen, 3 baths, completely finished basement. $29,950 or offer. Leon Bush LAYTON 3 MUST SELL 484-45- 04 Joe Dowell DOWELL-VILKIIIS- OII 564 bedrooms, n Highland Drive WE SPECIALIZE IN RESIDENTIAL PROPERTY M 4 fantastic yard, low $30,000 bracket. ACRES James Trayner, Builder 322-34- ; room buff brick, 14 baths, marble fireplace, fabulous kitchen, amusement room, 2 12 car garage, Announcing a "New Subdivision OWNER TRANSFERRED - MUST SELL $23,950 jWdJFj 8 3 Dick Butler 262-15- 24 355-11- 86 DOWELL WILKINSON 1 564 E. 3rd South 363-264- 25 SOUTH I .FTH EAST For appointment call Bob Wilkinson, Jr. 278-844- 4 r |