Strip Development
Definition of "Strip development"
Construction of commercial property in a manner that enables each lessee or tenant to have access to the main strip or thoroughfare running through the property. For example, this mode of development is very common in the building of a shopping center to insure maximum exposure of each store or unit to shoppers.
Popular Real Estate Terms
The Exclusive Agency Listing is regularly confused with the Exclusive Right to Sell Listing, but they are not the same. True: on both Listings, only 1 Broker or Agent has the right to sell ...
Value of agricultural land as determined by its ability to produce crops and livestock. ...
" A metal plate attached to the lower end of a door to prevent marring from people "kicking" the door in order to open it. A metal plate mounted on the open edge of a stairs platform." ...
Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the ...
A person who dies without a will and having unknown intentions regarding his estate. In such case, a court administrator is typically appointed to act as an executor in distributing any ...
Municipal ordinance stating the distance from a curb or property line where the building of a structure is prohibited. Also states the distances from a boundary line where construction is ...
Charges incurred in making a sale of real estate such as real estate commissions and attorney fees. ...
In general terms, a licensee means a person or legal entity who has received authorization or permission to perform a particular activity through another party (the licensor in our case.) ...
Also called all inclusive trust deed (AITD). A mortgage (trust deed) that encompasses existing mortgages and is subordinate to them. The existing mortgages stay on the property and the new ...
Have a question or comment?
We're here to help.