Certification
Definition of "Certification"
(1) Written statement by a responsible individual or entity of the correctness and reliability of something. (2) Written permission to do something, such as receiving a real estate franchise. (3) Issuance of an unqualified audit opinion on a real estate companies financial statements by a Certified Public Accountant (CPA).
Popular Real Estate Terms
Loan in which two or more lenders participate in the total financing of a single mortgage. The lenders in a piggyback loan do not necessarily have equal shares. ...
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 ...
The cost of property, such as a home owned for tax purposes. For example, a home was purchased for $150,000. capital improvements to it cost $15,000. The house was later sold for $230,000. ...
Name given by the Realtors National Marketing Institute which is affiliated with the National Association of Realtors. ...
Property interest a person has that is presently possessed by another. Upon the termination of the possession, the property reverts to the grantor. ...
Used to support two properties; it is attached to both. ...
In valuing real estate, substitution is the principle that the market value of a property can be relatively accurately estimated by determining market value of similar properties in the ...
Market condition in which the prices of real property are declining because of a lack of demand normally associated with a general economic slowdown. ...
Landlord's right to receive the value of the tenant's property to pay for unpaid rents or for damages to the leased premises. ...
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