Driving Time Radius
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 there is a unique attraction, the greater the driving time radius, the less value outlying property will have in relation to urban property values.
Popular Real Estate Terms
Real estate property incentive offered for reasons other than individual merit. A discriminatory inducement is an effort to get an individual to buy or sell, rent, or lease real estate ...
Also called a title defect. Any claim, lien, or encumbrance which, if valid, may impair the owners title to the property. This cloud does not hinder transfer of ownership on the property, ...
(1) Methods that involve discounting the future cash flows generated by an income property. These techniques are used primarily for valuation. (2) Methods of selecting and ranking ...
A Homeowner’s Association (HOA) is an organized group of homeowners in a home subdivision, condominium, or cooperative complex. They come together and found a Homeowner’s ...
The apportioning, disbursing, dividing, offering, or parceling out of property among individuals. (1) Probate: Court order to divide up and distribute the contents of an estate after the ...
Also called demand note. A loan with no established maturity period, callable on demand by the lender for repayment. The interest on this type of loan is calculated on a daily basis and ...
Also called interim financing. A mortgage that provides the funds necessary for the building or construction of a real estate project. The project can be a residential subdivision, a ...
Simply put, probate is a legal proceeding whereby the will of a deceased is tested for validity. The definition of probate is not known to most Americans. According to a Gallup survey, ...
An increase in the price or market value of real estate. ...
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