Counteroffer
Initial offer to buy or sell answered with a revised offer. For example, a buyer offers $500,000 for a home put on the market. The owner rejects the offer but submits a counteroffer for $525,000. Offers and counteroffers are not limited to price, but comprise such matters as financing arrangements and apportionment of closing costs.
Popular Real Estate Terms
Prevalent type of property taxes assessed on real estate. It is usually collected by the local government and distributed among agencies to finance services. ...
(1) Return of the principal invested in real estate. It excludes income earned. (2) Collection of a previously written off bad debt. ...
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ADU in real estate is an abbreviation for Accessory Dwelling Units. In everyday discourse, you might have encountered the term under the following nicknames: granny flat, backyard cottage, ...
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Person, such as the beneficiary of a deed, asking that he be informed if the property is foreclosed by someone else. ...
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Deed given by a trustee at a deed of trust foreclosure sale. ...
Water/plaster mix used as a surface for walls and ceilings. ...
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