Definition of "Prospect"
Potential customer or client in which there is a realistic chance of making the sale for the product or service. An example is a prospective purchaser of real estate that the real estate broker is interested in.
Popular Real Estate Terms
The term annuity due is a contract that demands payment at the beginning of each period. The most common example of an annuity due in real estate is rent when we consider that most ...
Failure or refusal to perform a specified action. The failure to fulfill contractually agreed upon terms or actions. Nonperformance creates a liability which can enable a judicial damage ...
Founded in 1969 and located in West Palm Beach, FL, NACORE has 3,273 members. Its members consist of anyone managing, administering and/or operating regional real estate departments for ...
The prepared form used to specify the terms of the listing contract. Usually a listing form consists of blanks the real estate agent fills in to provide the necessary information needed to ...
Approach to appraise rental property based on anticipated future earnings to be derived from it plus the estimated selling price at the end of he period held. ...
A decrease in spending dollars because of a decrease in the money supply. Less funds available to prospective home buyers by lenders. Attractive mortgages are difficult to get. ...
Layer of material put on the outside wall or foundation to prevent the intrusion of water or humidity into the structure. A moisture barrier is constructed out of plastic, aluminum foil, or ...
Tax assessed on a transfer of property made without adequate legal consideration. This tax is based on the appraised value of the property at the time of transfer.Also, gifts of property ...
Real estate market where supply significantly exceeds demand enabling potential buyers to obtain lower prices and good deals. ...
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