New York Real Estate Glossary Q
(Qualifying - Quotation)
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| J | K | L1
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| U | V1 | V2
| W1 | W2 | X
| Y | Z
Process determining an individual's financial ability to meet the terms
of a loan. When selling real estate, the sales broker must qualify the
buyer to make certain he/she has the financial ability to purchase the
Ratio used, by a lender, to determine how much a potential buyer can
afford to borrow.
Quality Assurance (QA)
Program that is intended, by its actions, to guarantee a standard level
System of control meant to guarantee, by periodic inspections, that
a certain amount of quality is being maintained during the production
of the product in question. Materials, procedures, tools, etc., as well
as the product itself are inspected.
Quality of Use
Type and value of real estate improvements made, in addition to the
use to which the land is put which is controlled by zoning and suitability.
Quiet Title Suit
Lawsuit filed to ascertain the legal rights of an owner to a parcel
of property, remove a defect or to remove a cloud on the title.
A deed that transfers without warranty whatever interest or title a
grantor may have at the time the conveyance is made.
Highest bid to buy and the lowest offer to sell a parcel of real estate
in a particular market at a specified time. Sometimes also refers to
a proposal to perform certain work for a specified price.