Priority


Definition of "Priority"

  1. Preference.
  2. Precedence.
  3. Something given prior attention.
  4. Something having a higher level of importance or ranking. Example of when priority apply are a prospective tenant for an apartment is the first to be called, a secured creditor coming before an unsecured creditor in bankruptcy, and a first lien on property.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Last Clear Chance

Common law rule of negligence that imposes liability on an individual who had one last opportunity t ...

Standby Commitment

Commitment by a lender to a borrower for a given amount of money at specified terms for the financin ...

Person

Individual with legal privileges and obligations. The legal term is sometimes used for a corporation ...

Personal Injury Protection (pip)

Coverage to pay basic expenses for an insured and his or her family in states with no fault automobi ...

Explosion, Collapse, And Underground Exclusion

Inherent danger resulting from certain construction procedures that are excluded from general busine ...

Cabinet Work

(1) Craft of one who fabricates fine cabinets, furniture, or woodwork. (2) General term describing i ...

Related Real Estate FAQ

What Is A Mortgagee?

A morgagee is the lender. ...

What Is Disability Insurance?

Line of insurance, which included coverages that are designed to protect the insured against a loss ...

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest ...

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affi ...

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The cred ...

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

10 Tips for Homebuyers 5 signs of house foundation problems What Must I Disclose When Selling My Home? Why Right Now is a Good Time for Millennials to Buy a Home 6 Reasons you are not selling properties

FAQ

What is zoning? What type of a home is a condominium? What is a convertible ARM? How Much Income Do I Need ? What happens when a property starts to depreciate?