What is 'Relative Value' Relative value is a method of determining an asset's value that takes into account the value of similar assets. This is in contrast with absolute value, which looks only at an asset's intrinsic value and does not compare it to other assets.
What is a Tenant Estoppel? What exactly is a tenant estoppel? By definition, an estoppel certificate is a âsigned statement by a party certifying for anotherâs benefit that certain facts are correct, as that a lease exists, that there are no defaults, and that rent is paid to a certain date.
The title company will order a title search, municipal lien search, and request a payoff letter from any mortgage or other lien holder so that the liens will be satisfied by closing of escrow. They also order an estoppel letter from the home ownersâ association or its management company. âEstoppel Letterâ is a fancy, legal term for what basically is a payoff letter. It certifies what periodic and any one-time assessments are on the property and the balance due to the HOA, if any. We have found Oviedo homeowners are sometimes unpleasantly surprised at the amount charged for an estoppel letter by the home ownersâ association and/or their management company.