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Nov 15, 2023 · The bump clause, also known as the "kick-out clause," is a real estate contract provision allowing the seller to continue marketing the property even after accepting a contingent offer. This contingent offer typically arises when the original buyer makes an offer on the seller's property.
Vendor bids, caveats, LVI and LMI got you confused? From appraisal to unconditional, here’s your complete guide to real estate terms explained.
- Christina Karras
Jan 19, 2021 · Bump Clause is one of those real estate terms that you may come across in a potential listing and think that it indicates a risk. Read more to learn more about them and how you may benefit as a buyer or seller.
Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
BUMF definition: 1. printed information, such as an advertisement or official document, that is usually unwanted and…. Learn more.
Estate - The degree, quantity, nature and extent of interest which a person has in real property. Estate in Reversion - The residue of an estate left for the grantor, to commence in possession after the termination of some particular estate granted by the grantor.
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Jun 15, 2021 · 40 Common Real Estate Abbreviations and Acronyms. Written by MasterClass. Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.