Derived Demand

Unintentional error. An example is a house that the seller wants $1,000,000 for but it is mistyped as $100,000. An error may be unilateral or mutual. Some types of errors are the basis to ...

The federal Reserve Bank's regulation of consumer and mortgage credit transactions. A lender must provide the annual percentage rate (APR) of the loan and other essential data in mortgage ...

Any structure projecting from a wall or other vertical element for the purpose of providing support for a weight or other object. ...

Type of ownership by husband and wife, recognized in 27 states, in which the rights of the deceased spouse pass to the survivor. It is the same as joint tenancy, except that one spouse ...

A fixed asset whose utility is derived from its physical attachment to a property and which usually cannot value or damage. A fixture, under the terms of a lease or other agreement, can be ...

Legal contract with a property owner empowering a real estate agent in selling, leasing, or mortgaging the principal's property. A listing has a legal description of the property, is valid ...

House that can be bought at a low price because it is in poor condition. A buyer who is handy may find it attractive because he can personally make the needed repairs without hiring others. ...

(1) To periodically withdraw money during construction stages as defined in a construction loan. (2) To write out a check or money payment or draft. (3) To compose and write a document ...

In 2020, our credit score is an essential and integral part of our financial lives. Replacing outmoded concepts like a good reputation and an unbroken word of honor, this relatively new ...

Every city has its claim to fame. For Chicago, it's the windy weather, a strangely shaped mirror sculpture, and one slightly above-average baseball team. For New York City, it’s the ...

If you are thinking of selling your house, any real estate investor or developer would suggest that you use one of the easiest techniques in order to increase its value in the eyes of any ...

The definition of a commitment letter or letter of commitment in real estate is a letter whose purpose is to inform a loan applicant that their application has been processed and their ...

Alexandria ranks as one of the most desirable places to live and there are a few aspects that persuade people to move here. The scenic Potomac River and the historic Old Town Alexandria are ...

Ever since prehistoric times, surveying has been one of the most important acts conducted prior to the construction of any type of structure. If ever wondered what are the steps you need to ...

When a home is marked “as is”, it means the home seller will not take part on any renovations, will not fix any defects the home buyer might bump into. If the home buyer wants ...

The definition of “auction” is derived from the Latin word “auctus” which means “increasing”. A home auction is a sale where bidders place one bid after ...