Potential Gross Income

Definition of "Potential gross income"

Expected revenue to be earned from a sale or the rendering of services. An example is a potential buyer of an apartment house who must estimate the gross rentals to be received in order to determine a realistic offering price for the property.

Have a question or comment? We're here to help.

Search Real Estate Terms

Popular Real Estate Terms

Alluvial

Soil, sand, and gravel deposited result of flooding or tidal action. ...

Recapture Clause

Clause in a percentage lease permitting the landlord to cancel a lease and recover the property if the tenant's sales fall below a specified level. ...

Tax Lien

Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax ...

Case Laws

See common law. ...

Estate For Years

Any lease with a specific starting time and a specific ending time. ...

Round Timber

Timber in an original form, such as a pole. ...

Popular Real Estate FAQ

Why Do People Refinance?

People finance to obtain a new loan in order to pay off the existing mortgage or to gain access to the existing equity in the home. ...

What Is An Escrow Officer?

An escrow officer - also known as a loan officer - is the person that walks you through the closing process. They are usually employed by the title c ...

What Is A Survey?

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

What Is A Subdivision?

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

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. To get a quick ballpark figure, take the yearly inc ...

What Is Joint Tenancy?

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

What is a mortgagor? Should I Pay Extra Each Month? What type of Life Insurance is right for me? What is flood insurance? What if the computer I want to insure is homemade or custom-built?