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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 ...
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 ...
For example, assume that "House B" has a value as a house of $200,000, and a site value as a commercial lot of $250,000 with a cost to demolish the house and prepare the site at $25,000. The highest and best use of the site is to demolish the house and sell the site as a commercial lot.
Duration: The exclusive right to sell clause in the contract you establish with your real estate agent should have an expiration date, which might be anywhere from 30 days to six months or more ...
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
Corporate real estate is the real property held or used by a business enterprise or organization for its own operational purposes. A corporate real estate portfolio typically includes a corporate headquarters and a number of branch offices, and perhaps also various manufacturing and retail sites. [1]
Deprecation may also occur when a technical term becomes obsolete, either through change or supersession. [clarification needed] An example from paleontology is the previously deprecated term Brontosaurus: before being recognized once again as a unique genus, [11] it was considered a popular, yet deprecated, name for the genus Apatosaurus. [12]