Contract Price
Definition of "Contract price"
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical.
Popular Real Estate Terms
Subordinate neighborhoods that are tied to an urban area economically. For example, office buildings in a city are the workplace for residents in surrounding communities. ...
Combined action of two or more people either for or against something. In real estate, used to indicate a common property ownership interest. Joint is also used to indicate a shared ...
Increase in the value of property arising from holding it. The gain is realized only when the property is sold at which time it is taxable. An example is the increase in the appraised value ...
Indicators reflecting future changes in economic conditions; referred to as the Composite Index of 11 Leading Indicators. This index indicates the direction of the economy in the next six ...
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Reducing the prepaid items on a debt agreement. ...
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Time it takes to drive to an outlying area form a major urban area. The driving time radius can radically affect real estate values in outlying areas of major metropolitan regions. Unless ...
The increase in a person's equity in a real estate due to the reduction in the mortgage loan balance and price appreciation. ...
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