Functional Obsolescence

Worth of the property part which is left subsequent to a condemnation action. ...

group of at least two people or businesses combining to engage in a real estate project that would exceed their individual financial abilities. A syndication allows earning to be ...

Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...

Federal act passed in 1974 regulating mobile homes. The act defines a mobile home as a "Structure, transportable in one or more sections, which is eight body feet or more in width and is ...

Represents a means of appraising a building by simply multiplying its square foot cost by the total amount of square feet in the structure being evaluated. Two or more buildings may then be ...

Report that contains information regarding the effect of a proposed project on the environment. ...

Peculiarities necessary to form a valid joint tenancy. They are unity of time, title, interest, and possession. ...

Depth of land used as standard to appraise its value. An example is 100 feet used for residential land. ...

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to ...

You’re researching your options regarding a homeowner’s insurance policy and you’re wondering which to get; there are so many! Then, your real estate agent, a great ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

A subdivision is a piece of land divided into several plots in which homes are built. ...

A home warranty is a guarantee for certain features of a new home-for instance, the materials and workmanship, the main components of the house, and so on. ...

A survey is an examination of a property\'s boundaries to determine the quantity of land, location of improvements, and other information. Usually the surveyor includes a map or drawing of ...

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

A VA loan is a type of loan available to veterans and guaranteed by the Department of Veterans\' Affairs. ...