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Wave shoaling is the process when surface waves move towards shallow water, such as a beach, they slow down, their wave height increases and the distance between waves decreases. This behavior is called shoaling, and the waves are said to shoal.
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 ...
The closing (also called the completion or settlement) is the final step in executing a real estate transaction. It is the last step in purchasing and financing a property. [ 1 ] On the closing day, ownership of the property is transferred from the seller to the buyer.
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.
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The term gazumping is not used in the United States as once a house sale and price are agreed verbally it is binding in law. [5] Every state has different laws and traditions, but buyers typically make a written offer that, when accepted (signed) by the seller, is in most localities binding on the seller.
Under the statute of uses, modern real property law disregards this subtle distinction. [citation needed] A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and referees.
In finance, flipping is the practice of purchasing an asset and quickly reselling (or "flipping") it for profit. Within the real estate industry, the term is used by investors to describe the process of buying, rehabbing, and selling properties for profit.