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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 ...
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.
An assessor's parcel number, or APN, is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes of identification and record-keeping. The assigned number is unique within the particular jurisdiction, and may conform to certain formatting standards that convey basic identifying information such ...
A trophy property or trophy home is a real estate term for the top 2% of properties in a given subcategory, the term refers to residences, architecturally or historically preserved properties, agricultural lands that have extraordinary yields, high-amenity natural land and properties with spectacular views, or other extraordinary amenities.
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.
Imputed housing rent is the economic theory of imputation applied to real estate: that the value is more a matter of what the buyer is willing to pay than the cost the seller incurs to create it. In this case, market rents are used to estimate the value to the property owner.
Many in the real estate industry worry that first-time homebuyers — those who need expert guidance the most, and who are already severely hampered by high prices and high mortgage rates — will ...
In real estate, stigmatized property is property that buyers or tenants may shun for reasons that are unrelated to its physical condition or features. [1] These can include death of an occupant, [ 1 ] [ 2 ] murder , [ 1 ] [ 2 ] suicide , [ 2 ] previous illicit activities, and even the belief that a house is haunted .