Cost Approach
Definition of "Cost approach"
Notion that a buyer should not pay more for a property than it would cost to buy at current prices for land, labor, and appraisals.
Popular Real Estate Terms
A certification of a property title issued by an attorney after examining the abstract of title. The attorney's opinion of title is essential to obtaining title insurance, a mortgage or the ...
(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 ...
Funds that are retained in an account until a certain event occurs. For example, a downpayment on a contract held until full payment is received whereupon the holding funds are credited to ...
Persons considered legally capable of entering into a binding contract. ...
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Individual who gives false statements under oath, which is a criminal act punishable by imprisonment and fine. An example is signing a tax return that fraudently understates rental income, ...
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What does viz. mean? The meaning of viz. derives from the Latin word videlicet which is translated into English as namely, that is, which is, as follows. You may encounter it in legal ...
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 ...
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