Quality Of Use
the type and value of real estate improvements made as well as the use to which land is put. This is controlled by zoning as well as suitability. For example, in a prime commercial downtown area large commercial department stores and high rise office buildings are constructed.
Popular Real Estate Terms
Requires collateral to secure the debt. An example of collateral might be one's home. ...
What is real estate speculation? The term real estate speculation may have a difficult definition, but explaining it may be easier. Think of the stock market, buying stocks when they are ...
The smallest lot area required for building under the municipal zoning code. For example, a municipal zoning code requires all building lots to have a minimum lot area of 1/4 of an acre in ...
House that can be bought at a low price because it is in poor condition. A buyer who is handy may find it attractive because he can personally make the needed repairs without hiring others. ...
See accommodation endorser, maker, or party. ...
A rule that the price of a house should not exceed about 2 to 2.5 times your family's gross annual earnings. Example : If annual gross income is $70,000, the highest price one could afford ...
Surface level of water. ...
Roof having a concave angle. ...
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 ...
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