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
Court order to seize and sell property because of the nonpayment of taxes, or foreclosure of property. ...
The definition of a closed-end lease is what happens when an individual rents or leases an asset at a monthly rate with no obligations for the lessee to purchase the asset that he rents at ...
The act or removing or dispossessing or expulsion of an individual from a premise by force or law. ...
A reduction in structural value from all reasons except physical failure. For example, a commercial building having an outdated elevator or electrical wiring system is experiencing ...
Generally, a turnaround means a performance improvement. The term applies to various economic fields and real estate too. What does turnaround mean? After a prolonged recession, a ...
Charge assessed on the remaining principal, often contained in mortgages, when an obligation is paid before its due. ...
Enhancement of a property's value even though the improvement is not on it. Lighting in the street would be an example. ...
A sash window having two vertically moving sashes respectively offset by sash weights. Each sash closes a different part of the window. ...
An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan. ...
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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