Counteroffer
Initial offer to buy or sell answered with a revised offer. For example, a buyer offers $500,000 for a home put on the market. The owner rejects the offer but submits a counteroffer for $525,000. Offers and counteroffers are not limited to price, but comprise such matters as financing arrangements and apportionment of closing costs.
Popular Real Estate Terms
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...
Established federal, state or local structural building requirements that have to be adhered to so as to receive certification by the government authority. Housing code enforcement is ...
A wall or roof which extends beyond a lower wall. ...
What remains after something is removed, such as substances left after a pollution treatment facility is removed. ...
Document submitted to a governmental agency to extend the time period for a previously approved document. ...
Clause in a mortgage that allows the borrower to pay more than the monthly amount and to retire the loan early without a penalty. ...
Insurance coverage to pay the balance of the mortgage if the wage earner dies. ...
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Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
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