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
New cost less accumulated depreciation to date. ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
Lawsuit brought by one or more persons of a large group for the benefit of all members of the group. ...
A proposal to buy property at a specified price. The seller of the property has the options of accepting the offer, rejecting it, or making a counteroffer. For example, John signs a listing ...
Short-term loan that is made to bridge the term between the end of one loan and the beginning of another. ...
Individual who will receive an inheritance upon the death of another. The proceeds of an insurance policy may be in a lump sum annuity. Real estate also passes to the beneficiary. ...
Representation on a flat surface of any region that depicts the elevation of that region. ...
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Siding made out of aluminum, plastic derivates, or cement asbestos having ridges and valleys which is attached to the sides of buildings. ...
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