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Figure 8-4
The vertical distance between points A and B represents a tax in the market.
-Refer to Figure 8-4.The per-unit burden of the tax on sellers is
Mortgage Note
A legal document that evidences a borrower's debt to the lender, secured by a mortgage.
Real Estate Closing
The final step in executing a real estate transaction where the title of the property is transferred to the buyer, and all related costs are settled.
Deed
A deed is a legal document that represents the ownership and transfers the title of property from one party to another.
Proceeds
The amount of money received from a transaction or event, such as the sale of an asset or completion of a project.
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