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S

Sales comparison approach	The method of evaluating a property's value by comparing it to actual sales prices and values of comparable properties
Sale-leaseback	A transaction in which a seller deeds property to a buyer for a consideration, and the buyer simultaneously leases the property back to the seller
SBA	Abbreviation for the Small Business Administration
Second mortgage, or junior mortgage	A mortgage whose claim to repayment is of lesser priority than another, previously recorded mortgage, usually or shorter term and often at higher interest
Secondary market	Agents or agencies that buy mortgages from primary lenders, usually at discounted prices, to sell to investors
Section, or Section of land	A parcel of land measuring one square mile or 640 acres
Set Back Lines	The distance designated by zoning regulations that is required between the perimeter of a property and where structures can be positioned
Secured loan	A loan guaranteed by collateral
Security	The property pledged as collateral for a loan or mortgage
Seller take-back	A contract whereby the seller of a property provides financing, sometimes as part of an assumable mortgage
Severalty, or Sole ownership	Ownership of real property by only one individual
Special assessment	An additional tax imposed by the government against specific parcels of real estate that will benefit from a public improvement, such as a street
Special warranty deed	An agreement whereby the current owner/seller guarantees he has done nothing that would impair or cloud title, but does not make any guarantee for what occurred prior to his ownership of the property
Specific performance	A legal action that requires a party to honor the terms of a contract
Statute of limitations	The time period allowed for the filing of a legal suit to enforce a claim, after which any such claims are barred
Step-rate mortgage	A loan that allows for the interest rate to increase in increments according to a designated schedule for a specified period of time, at the end of which, the interest rate returns to a constant percentage
Subagent	An individual or party who is employed by someone already acting as an agent
Subdivision	A tract of property that is divided into streets and individual lots
Subject to	Taking ownership of a property with a lien (legal claim or charge) against it, but not assuming responsibility for the said lien, while the holder who forecloses the lien can take the property, but may not collect money from the owner who took "subject to"
Subsidized second mortgage	An alternative financing option for low- and moderate-income households, issued by a state or county housing foundation, agency or nonprofit corporation, whereby the buyer can purchase a first mortgage with a subsidized second mortgage behind it; payment on the second mortgage is often deferred and carries a low or no interest rate, and a portion of the mortgage may be forgiven incrementally for each year the buyer resides in the home
Survey	The process of determining property areas, by measuring its dimensions, lot lines and other physical features Also, the map that results from such measurements taken

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John Beshk, Designated Broker The Beshk Group, Inc. 1409 W. Crystal Spring Dr. Gilbert, AZ 85233 Chandler Branch 908 W. Chandler Blvd., Suite 2, Bldg D. Chandler, AZ 85225 Mesa Branch 1355 N. Greenfield Rd. Mesa, AZ 85205 Office: 480-214-5347 Direct: 602-309-8888 Fax: 480-926-7308 Email: John@TheBeshkGroup.com John Beshk has been assisting Arizona home buyers and sellers with their real estate needs since 1992 and has helped hundreds of individuals and families realize their dream of home ownership. Every buyer and seller has different wants and needs, which makes finding an experienced professional like John and The Beshk Group, Inc. a necessity. John and his team of professionals can provide you with the individualized attention and service you deserve. John is certified by the Arizona Department of Real Estate and Maricopa Community Colleges to provide pre-licensing, appraisal and continuing education instruction for real estate agents and college students. All of his courses are open to the public and available at Mesa Community College. John earned his Bachelor of Science in Finance from DePaul University and Master of Business Administration from the University of Phoenix. John has resided in the East Valley since 1986 and currently lives in Gilbert with his wife, Mickie. John is the Designated Broker for The Beshk Group, Inc. a family owned and operated real estate firm that prides itself on creating and maintaining sound relationships with its past, present and future clients. You can contact John by telephone, email, request information through his website or by appointment at his Gilbert, Chandler or Mesa offices.   www.TheBeshkGroup.com is brought to you by The Beshk Group, Inc. NUMBER1EXPERT™ in real estate for Gilbert, Chandler and Mesa, Arizona Read John Beshk's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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