What does this mean? RFR’s aren’t just present in real estate sales agreements but can also be present in the sale of any asset, like personal property, a patent license, a screenplay, and an interest in a business. A failure to close on the date specified won't always result in a breach of contract. My agent says it's only the second buy he's had this year that didn't appraise. What Does Contingent Mean in Real Estate? Thanks. It was wrong for my realtor o change the status of my house as "Under Agreement". For homes that are in the Lake County portion of The Villages you’ll most likely see the phrase “No Bond” used. It can also stand for: Real Estate Institute of Tasmania, and Reduction in Exercise-Induced Tachycardia. ; Median - The middle value when the values are ranked. Phone 617-776-8304 Email [email protected] Address 2326 Massachusetts Avenue Cambridge, MA 02140. You don't want to sign a contract until the title has been fully examined. Michelle has been specializing in residential real estate since 2001 throughout Wellington Florida and the surrounding area. "Encumbrances" is a real estate term that is used to describe something obstructive. Real estate mergers and acquisitions were on pause for much of this year, but they've started to heat up again and one company has been particularly … Additionally, Social media is changing the way we communicate and advertise every day. Real Estate OBO abbreviation meaning defined here. That must be a typo? Anonymous. It is essentially a method of calculating the amount of time it could take to sell units that are currently on the market. WHAT DOES MONTHS OF INVEN TORY MEAN FOR REAL ESTATE? The appraisal came in this week $6k under list price, which is less than 5% difference - nothing like some of the horror stories I've heard on real estate forums. This is by far the most common form. People that know you best, your friends, your family. In real estate, the right of first refusal is a provision that often exists in a lease or another pre-standing real estate agreement. In the real estate industry, the term "concession" is typically used in very specific situations. What Does Escrow Mean and How Does It Work in Real Estate? If you are a homeowner with a mortgage loan, you have probably heard the term refinance tossed around during conversations. 1 decade ago. The role of the real estate agent has changed from that of the keeper of information to being the provider of information. Yes – Some of them are very Weird! What does that mean? An attorney should then read the abstract and comment on any problems discovered. A real estate attorney or a specialist at searching county records normally looks up the title. Top OBO abbreviation related to Real Estate: Or Best Offer Usually, it means that you are wrapped into the et al. If you see a property deed, you may notice your name is listed one time and then never again. Agents use them for two simple reasons. I am looking at American property and i found this house, it said it had 5000sq ft under air and 11000sq ft under roof, what does that mean? What does OBO stand for in Real Estate? In traditional advertising they are used to conserve space (e.g. Well, depending on who wrote it, it can mean one of a couple things. What Does Et Al. When searching for a home for sale, you may have encountered a variety of different sales statuses online.Beyond just “for sale” and “closed,” you may have also seen other common sales statuses such as “pending” or “contingent.” These phrases indicate where in the sales process the home is in. MA Licensed Broker #422635 RE-LC An expired listing is a property that has not sold by the end of the period stipulated in the listing contract between the seller and the listing agent. They are used often in advertisements and on the multiple listing service sites in the descriptions of a property. If you’re looking at the real estate market funding, the first thing you should do is educate yourself. Our by-laws state you can only own 2 lots but ... What doesDisclosure mean, in Californis, what is the definition. 11% of the mega-wealthy swear by this investment… The richest in the world have made their fortunes in many ways, but there is one common thread for many of them: They made real estate … During a transaction that requires a substantial amount of money, like a real estate purchase, trusting the person on the other side of the deal is essential to the success of a deal being made. One of the most significant obligations is the agreed-upon date for the closing. Relevance. Pottage definition, a thick soup made of vegetables, with or without meat. What an Abstract of Title Could Contain . I have a friend interested in purchasing the property. Before we get to the real estate specific examples, let's quickly review the definition of each term: Mean - The sum of values divided by the number of values. Historically, political party control of the US government has not had much bearing on investment performance of commercial real estate. refers to everyone who has an ownership interest in the property title. Are you asking what “ARV”mean? Answer Save. In real estate markets where prices fall significantly, homeowners can end up owing more money than the house is actually worth. phrase being used in the document. I wonder why this has happened, so I talked to several knowledgeable people about real estate. When lawyers and other real estate professionals talk about "title," they are referring to who has legal ownership and the legal right to use a piece of property.Although the idea of legal title can be applied to anything, people most often use it to refer to real estate and automobiles, because those are substantial purchases which can have complicated ownership arrangements. What does it mean when a real estate listing expires? He does not have a "real estate" license but says he is the park real estate agent. Here are the most common abbreviations used in real estate. Real estate is the most personal business in the world, so where are you going to start?
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