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Jun 15, 2021 · 40 Common Real Estate Abbreviations and Acronyms. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers. The real estate industry uses several unique acronyms and abbreviations.
- Terms of Service
2.1 Use Description: The MasterClass service, and any...
- Terms of Service
Nov 13, 2023 · You can explain to them that a commission is the amount charged by the real estate agents who lead the transaction. It is almost always paid by the seller. Generally 6% of the purchase price of the property, commissions are usually split between the buyer and seller agents and then between the agents and their brokers.
- Absorption: Often reported as a property’s absorption rate, an absorption is the amount of units or inventory of a particular type of commercial property that was occupied in a given market within a specified time period (usually not exceeding one year).
- Addendum: An addendum in real estate is a piece of additional information covering certain circumstances of a transaction and it is often added to a form contract as an attachment before execution of the contract or during escrow.
- Adjustable-Rate Mortgage (ARM): ARM refers to an instrument that allows real property to be used as collateral for a promissory note, which must specify interest rates and how they are expected to change from time to time.
- Amortization: Amortization is a process of using regular payments or installments to pay off debts, for example, a mortgage, over an agreed period of time.
6 | Commercial Real Estate Terms and Definitions Submarket Submarkets are geographic divisions of markets. These smaller divisions or boundaries are generally recognized and accepted by the real estate industry and the business community in a market and region. Submarkets are geographic boundaries that delineate core areas that are competitive
Below-grade: Any facility or part of a facility located underground or below the surface grade. Breach of Warranty: The failure of the seller of real property to pass title as either expressed or implied by law in the conveyancing document. Buffer: A strip of land. a transition established as between distinct land uses.
real estate, usually extending the useful life and value of a property. (The replacement of a roof would be considered a capital improvement.) Capital Loss - A loss from the sale of an asset not in the usual course of business. Caveat Emptor - Let the buyer beware. The buyer must examine the goods or property and buy at the buyer’s own risk.
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Jan 3, 2023 · Appraisal: The term commonly used in America to indicate what is termed in Australia as a Valuation. In Australia, the term means an opinion of the potential saleability of a residential property by a licensed Real Estate Agent. Appreciation: An increase in value. APRA: Australian Prudential Regulation Authority.
