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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.
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms:
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.
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 these cases, a floor might be used instead. Floors are useful when there is some assumption that there will be inflation in CAM charges over time, even if there is no inflation in a given year. A floor will budget in a minimum increase in the charges, with the expectation that it will lessen a more major increase in the future.
For computational reasons, astronomical year numbering and the ISO 8601 standard designate years so that AD 1 = year 1, 1 BC = year 0, 2 BC = year −1, etc. [c] In common usage, ancient dates are expressed in the Julian calendar, but ISO 8601 uses the Gregorian calendar and astronomers may use a variety of time scales depending on the ...
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