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
When you hear a real estate agent talking about a client that's an empty nester, it means said client suffers from empty nest syndrome. But what is Empty nest syndrome? Empty nest ...
We call a concept ostensible when, at first sight, it appears to be accurate or valid. However, upon closer inspection, it proves to be a half-truth or completely false. For instance, Dale ...
Those parts of a condominium that are owned by all the unit owners. ...
Money earned or accrued during an accounting period that results in the increase in total assets. Items such as rental income. Revenues arising from the sales of real estate. The ...
To transfer a property title by deed or other instrument to another party. ...
A real estate contract whose terms have been completely satisfied. ...
Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...
Excess of money or fair value of property received on sale or exchange over the carrying value of the property. An example is the sale of a building when the cash received exceeda its ...
Having a traditional salt box architecture with clapboard siding, the New England Colonial was enlarged for additional family members by adding extensions, often at the rear of the home. ...
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