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
External top of a structure such as for an office building or house. ...
An oral will made by a testator/testatrix just prior to death before an insufficient number of witnesses. Nuncupative wills depend on the oral testimony of those witnesses present as proof. ...
Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner ...
When we’re talking about debt service, we refer to the amount of cash required to cover the debt’s repayment of both the interest and the principal for a certain period of time. ...
The float has several meanings in the financial world and the real estate terminology. Typically, the float refers to the number of funds, represented by checks, that an institution or an ...
An estate constrained from some heirs and dedicated to others on the basis of a certain condition. ...
Value is exchanged by the parties to an agreement involving current or future performance making it legally enforceable. Without reasonable consideration for performance, the contract may ...
Same as term annuity: Equal period payments or receipts. Examples of an annuity are annual rental receipts from a real estate investment and cash dividends from a real estate firm's ...
Natural resource, such as oil, coal, and timber, having a limited useful life and subject to depletion. Such assets decrease in worth primarily due to the extraction of the valued commodity ...
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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