Caveat Emptor
Definition of "Caveat emptor"
Latin term meaning let the buyer beware. The buyer purchases at his or her risk, in the absence of fraud. This does not obligate the seller to volunteer information. However, legal statutes mandate full disclosure by the seller of known defects or problems in the property.
Popular Real Estate Terms
Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate ...
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Measures looking at the past, current a future direction of the economy. They may have an impact on the real estate market. Each month government bodies, including the Federal Reserve ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Legal right or privilege, such as that arising from a contract, to use land owned by another person or business for a specific purpose. The use should be reasonable for the circumstances. ...
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Changing property ownership. An example is the sale of a home to another. ...
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To depreciate is to lose value for something. Depreciation is the act of losing worth.Connecting with real estate, Property depreciation can be both an accounting method typically used to ...
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