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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 ...
K – Is used as an abbreviation for 1,000. For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an
Before the closing happens, the settlement agency must ensure that all the money that the lender and buyer expect to send into escrow matches the total amount expected by parties that need to be paid, such as the seller and real estate agents. This matching process means that accounting information is gathered and the order is “balanced.” [8]
In most real estate transactions, the buyer and seller are each represented by their own separate agents: one buyer’s agent and one listing agent. Each agent protects their individual client’s ...
Year-over-base caps allow the cap to raise each year by a certain, predetermined percentage of a pre-determined, initial (base) CAM charge. Year-over-year caps mean the percentage increase applies not to a base amount, but to the actual CAM charge of the previous year. Cumulative caps allow the yearly percentage increase of the CAM Cap to ...
What does pending mean? When an offer on a home has been accepted and is now under contract, it’s listed as “pending.” In other words, Lingscheit shares, if a home is pending it has “an ...
National Association of Realtors: Graduate Realtor Institute: GRI: National Association of Realtors: Accredited Land Consultant: ALC: National Association of Realtors: Certified International Property Specialist: CIPS: National Association of Realtors: Certified Property Manager: CPM: National Association of Realtors: Certified Commercial ...
The agreement is likely to spell an end to the traditional practice of home sellers paying commissions for both the seller's and the buyer's real-estate agents. In central Ohio, the commission is ...