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
Generally speaking, a moratorium covers a provisional or limited activity suspension. Temporary financial troubles or funding constraints can trigger issuing a lull. This postponement lasts ...
Section of the Internal Revenue Code that addresses tax-free exchanges of certain property. The general provisions for a tax-free exchange of real estate are that the properties must be ...
Predetermined price for a contract that will be the same irrespective of the actual costs incurred to complete it. This contract is advantageous to the buyer because he knows beforehand ...
Market condition in which the prices of real property are declining because of a lack of demand normally associated with a general economic slowdown. ...
Littoral refers to a piece of land bordering a large body of water that is not moving, such as an ocean, pond, sea, or lake. Many find "littoral" obscure since it's not widespread in ...
Platform erected on a roof in some New England homes having a view of the sea. It was said widows of lost seaman would walk on the platform looking out at sea for their husbands to return ...
Same as term graduated lease: A rental stipulation a varying rental rate. Rental rate are determined tied to periodic appraisals or an inflation or an inflation index. The provision is more ...
Same as term time sharing: Segregation of ownership in real estate property over a stated time period. An example is a co-owned vacation apartment, used by co-owners for one month each. ...
Current cost to replace property with an identical property after allowing for the depreciated value of the property. ...
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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