Definition of "Priority"
- Preference.
- Precedence.
- Something given prior attention.
- 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.
Popular Real Estate Terms
Governmentally held records of public transactions giving constructive notice that documentation exists confirming the transaction. ...
Requires collateral to secure the debt. An example of collateral might be one's home. ...
The United States has a law named “eminent domain” that grants local, state, or federal government the right to take ownership of a private property with or without the consent ...
An investigation to ascertain who legally has the title to property. For example, when a house is sold, the attorney for the purchase will do a title search to guarantee that the seller ...
Occurring two times per year; also called semiannual. On the other hand, biennial means occurring each two years. ...
Structure built into the water from the land providing a facility for boats to tie up. A dock will often provide utility access ...
(1) Mildly convex arch built into a load bearing beam, girder, or truss to counteract any load bearing stress placed on it. (2) Slight slope designed into a structure such as a drive4way or ...
initial plaster used on a lathe. ...
A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...
Comments for Priority
what is the term used for first introducing a property to a buyer or tenant
Feb 22, 2021 09:01:17Hey Andy! I think you are referring to a showing. A home buyer is typically introduced to a property by a buyer’s agent through a showing. An open house is also one way a buyer can be introduced to a property, but the last one is a public house tour rather than a private tour.
Feb 26, 2021 09:09:20Have a question or comment?
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