6/22/2023 0 Comments Real estate lingo for ads![]() ![]() 75,000 to 300,000 square feet.Ī change correcting an error or altering part of an agreement without changing the principal idea. No anchors retail includes specialty retail and restaurants. The right to use space above real estate.Ĭonsolidation of retail stores located within a commercial airport. see also fiduciary leasing agent managing agent. Non-personal, paid communication such as newspaper, radio, direct mail and TV directed toward the general public or, in some cases, specific prospective client groups to provide information about the time, place, contents, and arrangements of an auction.īefore-tax cash flow less income tax liabilities.Ī person (or business entity) who enters a legal, fiduciary, and confidential arrangement with a second party (the principal) and is authorized to act on behalf of that party. (2) An increase in the value of fixed assets due to the acquisition of a new property or the enlargement of an old one. (1) A term sometimes used to denote a subdivision. most often refers to taxes levied by municipalities and counties against real property and personal property.Ī list or additional material added to a letter, document, contractual agreement, or the like. Unsubdivided land that is customarily measured in terms of acres rather than front feet or square feet.Ī tax levied on the basis of the value of the object taxed. If installation and other associated costs are included, the term “total acquisition cost” should be used.Ī land measure equal to 43,560 square feet, or 160 square rods. The cost used in accounting to represent the purchase price of an asset. Abstracts are arranged to show the history of ownership, describe the land and improvements, and give the name(s) of past and present owner(s).Ī condition in a mortgage note or loan contract that allows the lender to demand immediate repayment of the entire balance if the contract is breached or other repayment conditions occur.īuilding used for a purpose incidental and subordinate to that for which a main building is used.Ī report issued to the seller by the auctioneer detailing the financial aspects of the auction. These documents include all conveyances, such as deeds or wills, and all legal proceedings relating to ownership of the property. ![]() absorption rate can be computed as follows: units or square feet vacant at the beginning of the period plus units or square feet constructed new during the period minusunits or square feet demolished during the period minusunits or square feet vacant at the end of the period equals units or square feet absorbed during the period.Īn abstract is a complete summary of all recorded documents affecting the title to a property. also used in reference to the rate at which a market can absorb space designed for a specific use (e.g., office space). The amount of space of a particular property type that is leased compared to the amount of that same type of space available for lease within a certain geographic area over a given period of time, accounting for both construction of new space and demolition or removal from the market of existing space. Also known as an auction without reserve.Ī lease in which the tenant pays all expenses including structural maintenance repairs usually a long-term lease to a credit tenant. The seller may not bid personally or through an agent. The particular rules and procedures of absentee bids are unique to each auction company.Īn auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. Absentee bids are usually handled under an established set of guidelines by the auctioneer or his representative. Generally, a bidder submits an offer on an item prior to the auction. (2) An official reduction or elimination of one’s tax liability after completion of the tax roll.Ī procedure which allows a bidder to participate in the bidding process without being physically present. (1) An official reduction or elimination of one’s assessed valuation after completion of the original assessment. The relinquishing of all rights and interests in real property, including any fixtures, with no intention to reuse or reclaim. ![]() to qualified real estate auctioneers who meet the educational and experiential requirements of the Institute and who adhere to a strict code of ethics and standards of practice. The professional designation awarded by the Auction Marketing Institute, Inc. Otherwise known as "As Is, Where Is" and "In its Present Condition."ĪARE (Accredited Auctioneer, Real Estate) Buyers are solely responsible for examining and judging the property for their own protection. Selling the property without warranties as to the condition and/or the fitness of the property for a particular use. ![]()
0 Comments
Leave a Reply. |