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Career Resource Center Archive
RISMEDIA, December 28, 2010—(MCT)—In response to the recent crimes against real-estate agents in the Youngstown and Kent, Ohio, areas, local real-estate brokers are reviewing safety precautions for their agents. These incidents remind all agents nationwide to review safety procedures when showing vacant homes. ...
Procedure that classifies real property for a number of different uses: residential, commercial, industrial, etc. in accordance with a land-use plan.
What an investment or property will return; the profit or income.
Depreciation or amortization an owner takes on a commercial property.
A deed in which the grantor guarantees that he or she is giving the grantee good title free of encumbrances. Considered to be the best deed a grantee can receive.
Veterans Administration-backed mortgage. The VA, a federal agency, operates a loan guarantee program for honorably discharged veterans and widows of veterans who died of a service-related injury. Mortgages call for low or no down payment. Sometimes referred to as GI loan.
A permit granted as an exception to a zoning ordinance that allows a property owner to meet certain specified needs.
See adjustable rate mortgage.
Market value or present worth. To have value, a property must have utility, scarcity, effective demand, and transferability.
Estimated or determined value; synonymous with appraising.
One that meets all requirements of law, is binding upon its parties, and is enforceable in a court of law.
Charging a higher rate of interest on a loan than is legally allowed.
The period of time over which a commercial property can be depreciated for federal income-tax purposes. Also known as economic life.
The acquisition of run-down city areas for purposes of redevelopment.
Ownership by two or more persons that gives each the right to use the entire property.
