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Jaime Uziel knows that as a real estate attorney his clients depend on him to interpret the legalese that's part of any real estate transaction. He's happy to do that, he says, but he also tries ...
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser.A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
Here are 15 real estate terms you need to know. Real Estate Agent. Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction. Agents are ...
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 ...
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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.
WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
An addendum is an attachment to a contract that can introduce new terms. Both parties must agree to them, however, refusing may have consequences down the line.