Concession
Definition of "Concession"
(1) Right to engage in and earn from a particular activity in return for services or for a particular use. (2) Reduced price used as an incentive. (3) Permission or right, granted by a governmental body, to use property for a particular type of business in a specific area or place. (4) Compensation for the underwriters work in a new security issue of a real estate company.
Popular Real Estate Terms
Haven’t you ever paid a bill a few days after the due date? It happened to all of us, not necessarily because we didn’t have the money, but because we simply forgot about it. A ...
Mock closing; all information is available prior to an actual closing in order to insure all documents are properly executed by the appropriate parties. A preclosing is normally used only ...
Removal of a tenant from a portion of a rented or leased premise. ...
Expiration of a lease or insurance policy by mutual consent of the parties, also to give up. ...
Platform erected on a roof in some New England homes having a view of the sea. It was said widows of lost seaman would walk on the platform looking out at sea for their husbands to return ...
Offering price. ...
Condensed appraisal report covering the major items. ...
Mortgage where the lender pays a borrower a fixed monthly payment based on the value of the property. It allows the borrower to receive monthly receipts against the equity in his or her ...
Also called price control or rental control. A controlled or administered price that is set for property by a federal or local agency typically in extraordinary circumstances. ...
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