Metropolitan locality such as a city. It is heavily populated with many residents and businesses. An example is New York City.
Popular Real Estate Terms
Increasing prices during a slowdown in economic activity. ...
A unilateral contract is a contract where only one part holds responsibility for whatever the document promises. For instance, an insurance contract is usually a unilateral contract ...
Loss of property value due to external forces of events. ...
In a construction loan, payments made to a contractor as the various construction stages are completed. The contractor uses progress payments to pay the various subcontractors and suppliers ...
The transfer of a property deed from one person to another without publicly recording it. The recording of a deed in a public office gives constructive notice of the act of the sale and ...
The reason a property appraisal is being made. The purpose of the appraisal is the first step in the appraisal process. The purpose of the appraisal should answer several questions: ...
Funds earned by the contractor for construction activity but held back by the owner of the property until the job is finished to a greater degree. This provides the contractor with an ...
Same as term contract of sale: Written agreement between a seller and a buyer in which the latter agrees to buy real estate property upon mutually suitable terms. ...
Looking for an amortization definition? Amortization is an accounting term that basically means something like “reducing the gap between what is owed”. Here’s the play by ...
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