Amount to be paid by a person or business for violating a statute or legal court order. It may also be assessed for violating the provisions of a contract. Examples of penalties are a charge made by the Internal Revenue Service for underpaying corporate income taxes, penalty assessed by a municipality for failing to pay property taxes, penalty due to prepaying a mortgage, amount arising from breaking a real estate contract, and fee due from prematurely terminating a lease.
Popular Real Estate Terms
Money payments to be delayed for a future date or extended over a period of time. ...
Method of revenue recognition based on delivery instead of sale. ...
A written agreement between institutional investors to buy or sell ownership shares in mortgages. An institution such as a bank can agree to buy a certain number of shares in a single or ...
Investment made rationally and intelligently as would be expected by a professional person. A reasonable degree of safety and return are expected. A example is an office building with 99% ...
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Pipes from a structure to a sewer for the purpose of sewage disposal. ...
Unit of metric are measurement where one hectare is equivalent to 2.471 acres or 107,637 square feet. For example, a 3 hectare parcel of property is equivalent to 7.413 acres or 322,911 ...
Favorable occurrence providing a good chance for success, usually in financial terms. ...
Home appraisals are required for many situations in the real estate industry. The most common instances in which any homeowner might be required to do an appraisal are selling your home or ...
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