Liquidated Damages
An amount of money provided for in a contract as compensation if the contract is not fulfilled. An example is an offer to buy real property that includes a provision that once the seller accepts the offer, if the buyer does not complete the purchase, the seller may keep the buyer's deposit as damages.
Popular Real Estate Terms
Inverted gable roof design where the two side slope upward from the center to the eaves with a valley in the middle. The roof resembles the wings of a butterfly, hence, the name. ...
Written statement in a deed limiting the number, type, size, and use of property. See also deed covenants. ...
The term foreign direct investment (FDI) refers to the purchase of an interest in a company from an investor or company that is located outside of the borders of the company in which the ...
The amount of money a developer must directly invest in order to obtain a development loan. It pays for the initial development cost including costs for items such as architectural plans, ...
Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. They provide necessary utilities to the mobile homes often including recreational ...
Unimproved property. It has no utilities, sewers, streets, or structures and usually must be cleared. ...
Map presented to a municipality's planning agency by a real estate developer for consideration and approval. ...
Warming method using sunlight. It involves special glass panels. ...
Second home. The interest and real estate taxes on the second home are tax deductible on the family's 1040 tax return. ...
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