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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.
Mar 20, 2023 · When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. Keep this guide handy — you'll be fluent in the language of home buying before you know it.
- 7 day notice. Notice period required by the banks before exchange of contracts on a repossessed property.
- Best and final. When a property has more than one interested party, and negotiations are going back and forth with both parties increasing, a situation may occur where sealed bids are offered.
- BMV. Below market value (don’t use this! They may not know what it means)
- Broker. Mortgage broker who offers finance.
Sep 13, 2024 · 11 Real Estate Terms That Every Buyer And Seller Should Know. Real estate jargon often relates to financial decisions, so it’s worth familiarizing yourself with the most important terms. Sellers...
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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Black’s Guide’s Glossary of Real Estate Terms provides a complete reference dictionary of terms and phrases used in the commercial real estate industry. These definitions have been endorsed by numerous industry organizations as the Market Standard for their respective regions.
Jul 8, 2024 · Learn top real estate definitions every investor needs to know. Including examples, formulas and tips to explain real estate investing.
