Normal Loss


Definition of "Normal loss"

Gina Teague
  RE/MAX Unlimited

Particular type of loss which is expected by an organization and for which provision is usually made in the budgeting process of the organization.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Acceptance

Agreement to an offer, in contract law, thus forming a contract. For insurance contracts, the insure ...

Divisible Contract Clause

In property insurance contracts, provision that states that the violation of one or more contract co ...

Hidden Clauses

Ambiguous contractual language that may result in an unsuspecting buyer of a real property incurring ...

Consignment Insurance

Coverage for items that are on consignment, including exhibits, goods up for auction, and goods awai ...

Direct Liability

Legal obligation of an individual or business because of negligent acts or omissions resulting in bo ...

Floating Floor

Floor design to provide sound insulation qualities. A floating floor is separated from the building' ...

Related Real Estate FAQ

What Is A Private Mortgage?

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by p ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

Why Do People Refinance?

People finance to obtain a new loan in order to pay off the existing mortgage or to gain access to t ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report ...

What Is A Seller Disclosure?

A seller disclosure is a form required by most states; the seller uses this form to disclose any kno ...

What Is An Index?

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How is Square Footage Determined? 7 Things to Consider Before Moving to a New City What is Earnest Money Is it better to buy or sell a home first What do Real Estate Attorneys do?

FAQ

What is a contingency? What is a buydown? What is an APR and what does it include? What is flood insurance? What is an amortization?