Definition of "Con"
Con can mean the downside of any relevant aspects that need to be weighed and evaluated before any decision is made. For example, there are pros and cons to living near an airport and one must decide if it would benefit them or not to move in the vicinity of an airport.
Another meaning for con is scamming or someone’s ability to persuade by lying or not offering valid information. Con could be an instance of deceiving or tricking people in order to have some sort of gain after it. For example, a person that uses deception to get someone’s money is a con.
Con in real estate
In real estate, con can be identified as a scam artist or a person involved in real estate that has the ability to deceive in order to obtain something from his victims. A planned scheme that has the sole purpose of deceiving for monetary gains through real estate can also be identified as a con. Con schemes or con artists can be found in any industry not only in real estate therefore this term is commonly used in many other markets.
As an example, a con or a scam in real estate can be a fake rental listing. The con artistic or the scammer takes a legitimate properties information and acts as landlords or real estate agents, asking for an upfront down payment or security deposit.
Also, cons come in the form of homeowners or landlords that pretend to be out of the country and they are unable to show the property before you sign the lease or contract with the promise that the keys will be mailed to you.
These are just a few of the real estate cons or scams that occur and some of them can lead to monetary losses or unauthorized use of personal information that could lead to bank frauds, opened mortgages, leases, or loans.
Popular Real Estate Terms
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A clause in a document forbidding an individual from selling or transferring the subject property to another. Frequently, nonalienation clauses are used in a trust where the grantor of the ...
A stated of years. The length of time something is effective, such as a two-year rental. A condition specified in an agreement. An example is that the tenant must not have a cat in ...
Commissions received by a syndicator when real property is sold. The fees typically occur after the investors receive their initial investment plus the specified return. ...
English-style home. It is usually 2-stories high. The roof is of a hip type. The chimney is on the side of the home. ...
Arches, either roofed or open, mounted on a series of pillars to form a passageway or walkway. ...
Wood panels on a wall. ...
A ground lease that includes only the cost of leasing the land for a period of years. Normally, a land lease is valid for an extended period of time anticipating that improvements will be ...
A group of investment bankers underwriting and distributing a new or outstanding issue of securities of a real estate business. a professionally managed limited partnership investing in ...
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