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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Days on market (DOM, alternatively active days on market, market time, or time on market) is a measurement of the age of a real estate listing. The statistic is defined as the total number of days the listing is on the active market before either an offer is accepted or the agreement between real estate broker and seller ends.
Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
With regular condominiums, the unit owner usually owns the internal unit space and a percentage of the common property; in the case of a freehold condominium (or a bare/vacant land condominium) the owner owns the land and building and a percentage of any common property shared roadways and amenities. [2]
A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
In general, real estate — including condos — tends to appreciate over time. As of late, condo prices have posted more gains than single-family homes: The median price of a condo increased 5.7 ...
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g., in the case of conveyance, one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
In Houston, the number of condos for sale rose close to 36% in the same time period. In both metropolitan areas, prices dropped in response. ... The median sale price for condos in Tampa fell ...