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A party that forms an agency relationship with a real estate broker, either as seller or buyer, is called a client or principal.
A type of ownership in real estate where a legally described "space" is owned. There are often common areas such as the lobby, grounds, pool, etc.
The results of all real property appraisal are confidential as required by USPAP. Some parts of the report, like the regional, city and sub-market analysis and the comparable sales used to develop the appraisal opinion, are not.
A fee that will be earned only upon the occurrence of a pre-determined event. Some real estate fees are earned only upon the final closing of a real estate transaction, and are thus contingent upon that closing. Other agreements only call for the agent to have found a "ready, willing and able buyer."
It is important to retain an attorney that specializes in real estate law review all of your real estate contracts and related documents.
A mortgage loan generally given without the benefit of a Veterans Administration (VA) guaranty or a Federal Housing Administration (FHA) insurance policy.
Consumer Credit Report
Credit reports provide a history of an individual's credit transactions over a seven year period. A credit report also offers information on past foreclosures, tax liens, bankruptcies, and court judgments. Sellers who carry paper on real estate and financial institutions that make loans need to know how much risk is involved with a potential buyer, and a credit report provides an indication of risk.
An agency that participates in a multiple listing service agrees to cooperate with other member agencies. Thus the agents that belong to the multiple listing service are often called cooperating agents.
A party who does not have an agency relationship established with a real estate agent that is looking to buy or sell real estate. If an agency relationship is formed with a customer they become known to an agent as his or her clients.
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Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.