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The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
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.
estate. Landed property, tenement of land, especially with respect to an easement ( servitude ). 2 types: praedium dominans - dominant estate ( aka dominant tenement) praedium serviens - servient estate ( aka servient tenement) praeemptio. previous purchase. Right of first refusal. praesumptio. presumption.
Getty By Trulia Home-buying and selling is stressful — and with industry acronyms and real estate terms flying at you from all directions, you may feel overwhelmed navigating your new real ...
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred between two or more parties, e.g. in 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, the ...
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C. Canal estate. Chain (real estate) Chain of title. Chain-free property. Closing (real estate) Closing costs. Common area. Common area maintenance charges.
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 ...