Drake Chapman Real Estate, Brokerage

Drake Chapman Real Estate, Brokerage

102 Willow St, Hallsville TX 75650
Phone: (903) 660-2774 · Fax: (903) 660-2899




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Glossary of Terms

Don't be confused about the terminology used in the industry, find out what it all means here.

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QUADRAPLEX
A building containing four dwelling units.

QUALIFICATION RATE
The rate of interest used to calculate whether or not a borrower qualifies for a mortgage.

QUALIFICATION REQUIREMENTS
Those guidelines set by lenders to be used when deciding whether or not an applicant will be given a loan.

QUALIFIED ACCEPTANCE
Also known as conditional acceptance. Agreeing to enter a contract provided certain conditions are met.

QUALIFIED BUYER
A purchaser who has been pre-approved for financing.

QUALIFIED FEE ESTATE
A legal interest in land which is limited.

QUANTUM
Literally, the amount.

QUARTER SECTION
A measurement from the Government Survey Method, measuring 2,640 feet on each side and containing 160 acres.

QUIET ENJOYMENT
The legal right of an owner or tenant to have uninterrupted use of the property or premises without interference.

QUIT CLAIM DEED
A conveyance which releases any interest the conveying party may have in a property without any warranty as to that partys claim.



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Drake Chapman Real Estate, Brokerage


102 Willow St, Hallsville, TX 75650

  Phone:
(903) 660-2774
  Fax:
(903) 660-2899
  SMS/Text:
(903) 736-3273