Real Estate Glossary Business Dictionary Definition MWP Mortgagee

Site Last Updated
19 March 2010

"Just letting you know we have sold our business - Clever Cuts Hair Design, and could you please remove the advertisement from the web site. We are fortunate to have sold the business through your web site. Thank you for time, effort and advise. Cheers Julia Watkins"

Clever Cuts Hair Design
Auckland, New Zealand

"The above business has been sold, thanks to the Aorata web page. We handed over a couple of weeks ago and today have finished our obligations and best of all, received all the cash. We both wish to thank you for all advise and recommendations re the above, and ask that last question, please remove us from the 'FORSALE' section. Once again, many thanks and yes we have passed on and will continue to do so the benefits of Aorata. Cheers, Tony & Ann."

Counties Cycle & Model Centre
Pukekohe, New Zealand

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Real Estate / Business Glossary

"M" Dictionary Definition - What is a :

Market Value
The amount of money a buyer is willing to pay for your property.

Mortgage
A legal document which pledges goods or property as security for repayment of a loan. The lender has the right to sell your property if you are unable to pay your loan. The lender is named on the mortgage and can hold your Certificate of Title until you repay the loan.

Mortgagee
The lender of loan funds (Bank or other Institution) who takes mortgage security over the assets of the borrower (and holds the mortgage until it is repaid).

Mortgagee Sale
If you can’t repay your loan, and the lender has to sell your home or business to get their money back, this is a mortgagee sale.

Mortgagor
The party borrowing loan funds whose property assets are mortgaged as security in favour of the lender. You are the mortgagor if you have borrowed money to buy a home.

MWP
Marketed Without Price