Economic Obsolescence | Real Estate Glossary

Definition of "Economic obsolescence"

Loss of property value due to external forces of events.

Same as term Maximum Foreseeable Loss: worst case scenario under which an estimate is made of the ma ...

Coverage for the owner of a business. When a proprietor dies, debts of the business become the debts ...

Funds set aside by an insurance company to pay incurred losses which have not yet been paid. ...

Hospital, physician, or other provider of health care that an insurer recommends to insureds. A PPO ...

The maximum allowable increase in the interest rate on an ARM each time the rate is adjusted. It is ...

Number of bits a modem can receive or send per second. ...

A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed ...

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

When a property depreciates it declines in the value of the property due to poor location, dilapidat ...

A lien is a claim against a property. ...

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate be ...

A mortgage is a legal document that pledges your property as security (like collateral) for a loan. ...

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