Board Of REALTORS®
Local group of real estate brokers who are members of the State and National Board of REALTORS®. Meets regularly with their membership and helps determine licensing requirements as well as managing the multiple listing service of their service area. They may also provide additional services to their members.
Popular Real Estate Terms
Principal highway designed to divert traffic around a major urban area in order to limit congestion and expedite traffic flow. A belt highway is connected to the urban area by main highways ...
The appellant definition references a concept related to legal proceedings. The appellant is the individual who is dissatisfied with the judgment in a lawsuit and asks for a superior court ...
Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...
An increase in the income tax basis of a property that is a result of a tax-free exchange. As a result of an inheritance, for example, the basis of the inherited property was stepped up to ...
Last installment payment, substantially greater than the previous installment payments. The unpaid balance of a long-term loan is paid off in a lump sum at the end of the loan term. ...
Construction materials from stone, brick, and concrete block. Masonry materials play an important role in providing structural support as well as being used as decorative finish surfaces. ...
Tax-free exchange that allows a seller two years after escrow closes on his former principal personal residence to buy like-kind property and defer taxes. Profits from the sale of a ...
Also known as “cap rate” or “income yield”, Capitalization Rate is a useful way to compute the rate of return on a real estate investment. It is commonly used in the ...
Loan guaranty program included in the Servicemen's Readjustment Act of 1944. Its provisions cover the compensation to lenders for losses they might sustain in providing financing to ...
Comments for Board Of REALTORS®
I had a contract to sell a commercial building in Texas. Two or three days prior to the expiration date, I sent an email to my realtor. In the subject line it said termination and lock codes. In the body f the letter I said nothing about terminating earlier than the signed contract. I sent this email to her to basically get the codes to supply my new realtor to access to the property. I never mentioned to terminate early. I knew she had a possible client and even though she didn't sell the property, I wanted to see if she could get an offer placed in the last couple of days. The contract had been extended one month and a couple of weeks as she was changing brokers. I did sign a new contract for her to work with a new broker, cut never signed a termination of contract. She is now saying I own her for money she spent while trying to find a buyer. Is there something you need to sign to terminate a contract? My local realtor said that there is.
Jan 09, 2023 18:19:34Hello Margaret! Thank you for contacting us1
Jan 25, 2023 09:22:16Rules, laws, and requirements are different or can vary in each state. We recommend that they reach out to a real estate attorney who knows the law by heart and can give you an adequate response.
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