Property Under Contract
Real property being offered for sale that has received a contract for sale but has not gone to a closing. Under these circumstances, it may be possible to accept a refundable binder for sale to a different purchaser should the original contract for sale not be completed.
Popular Real Estate Terms
location where someone stays on a permanent basis. An example is a home to a family. ...
A correlation defines how two variables relate to one another. We can confirm a correlation if an alteration in one variable can change the other’s behavior. Using quantifiable data ...
Changes occurring in neighborhoods over time. The neighborhood life cycle includes the phases of birth, early growth, maturity, and decline. Not all neighborhoods pass through them more ...
Major lease in a structure that controls subleases. An example is a landlord and attorney entering into a main lease for the third floor offices of building. This lease takes precedence ...
A capitalization method which divides a properties first year net operating income by an estimated general capitalization rate to develop a total property estimate. ...
Grades have various definitions related to real estate and surveying land. Let’s have a look at the most common meanings of grades you’ll encounter in everyday life! Grades ...
Legal order for a person to present at a deposition or trial documents in his possession, such as related to a real estate transaction. ...
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status. ...
The legal description of property is a legal instrument to determine as best as one can, the physical boundaries and characteristics of a plot of land and the housing built on top of it. ...
Have a question or comment?
We're here to help.