WHEN THE VALUE OF A SUPERIOR PROPERTY IS NEGATIVELY INFLUENCED BY THE SURROUNDING INFERIOR PROPERTY
REGRESSION
EMPLOYMENT AGREEMENT BETWEEN THE OWNER AND THE RELATIONSHIP, SCOPE OF MANGEMENT DUTIES AND RESPONSIBILITIES
MANAGEMENT AGREEMENT
NOTICE PRESUMED BY LAW AS A RESULT OF RECORDING DOCUMENTS
CONSTRUCTIVE NOTICE
THE POTENTIAL USE OF THE PROPERTY THAT WOULD PRODUCE THE HIGHEST INCOME OR VALUE
HIGHTEST AND BEST USE
THE MOST PROBABLE PRICE A PROPERTY WOLD SELL UNDER SPECIFIC CONDITIONS (ARM,S LENGHT, OPEN MARKET
MARKET VALUE
WHEN A TENANT VACATES A PROPERTY THE LANDLORD FAILED TH PROVIDE ESSENTIAL SERVICE
CONSTRUCTIVE EVICTION
A LEASEHOLD INTEREST FOR A FIXED PERIOD OF TIME WITH DEFINITE BEGINING AND ENDING DATES, MUCH LIKE A LEASE
ESTATE FOR YEARS
THE CURRENT COST TO REBUILD THE STRUCTURE WITH A BUILDING OF SIMILAR UTILITY BUT WITH MODERN MATERIALS AND CONSTRUCTION STANDARDS
REPLACEMENT COST
SOMETIMES CALLED BUILDERS TRADE BREAKDOWN OR THE COMPONENT METHOD, A METHOD OF ESTIMATING COST BY TRADES OR INDIVIDUAL BUILDING COMPONENT
UNIT IN PLACE
SCHEDULED MAINTENANCE TO PREVENT COSTLY REPAIRS AND REPLACEMENTS, ANNUAL SERICING
PREVENTIVE MAINTENANCE
AN INDEFINITE LEASEHOLD, VERY INFORMAL, DEATH OF EITHER PARTY WILL TERMINATE
ESTATE AT WILL
THE INCOME APPROACH FOR SINGLE FAMILY RENTALS UP TO UNITS
GRM X MONTHLY RENT= VALUE
GROSS RENT MULTIPLIER
THE INCREASE IN VALUE RESULTING FROM THE ASSEMBLAGE
PLOTTAGE
AN OPINION OF VLUE
APPRAISAL
ALTERATIONS TO A BUILDING OR SPACE TO SUIT THE TENANT NEEDS
TENANT IMPROVEMENT
THE CURRENT COST TO REPRODUCE THE STRUCTURE WITH AN EXACT DUPLICATE USING THE SAME MATERIALS AND CONSTRUCTION STANDARDS
REPRODUCTION COST
SOMETIMES CALLED THE SQUARE FOOT METHOD, A TECHNIQUE TO ESTIMATE COST NEW ON AN OVERALL COST PER SQUARE FOOT BASIS
COMPARISON METHOD
MINOR REPAIRS INTENANDED TO KEEP EQUIPMENT FUNCTIONING,
CORRECTIVE MANTENANCE
ALSO KNOW AS A PERIODIC TENANCY OR A TENANCY FROM YEARS TO YEARS, SIMILAR TO A MONTH TO MONTH RENTAL AGREEMENT
ESTATE FROM PERIOD TO PERIOD
A LOSS IN VALUE AGAINST COST NEW CAUSED BY PHYSICAL DETERIORATION, FUNCTIONAL OR EXTERNAL OBSOLESCENCE
DEPRECIATION
issued by the local building inspector after completion and prior to occupancy
certificate of occupancy
inducing owners to sell by claiming that the entry of a protected class of people into the area might have a negative impact values
BLOCKBUSTING
THE MATHEMATICAL DIVIDING OR SHARING OF FINANCIAL REPONSIBILITY BETWEEN THE BUYER AND SELLER WITH THE AMOUNTS ENTERED ONTO THE CLOSING STATEMENT
PRORATION
ILLEGAL UNEARNED FEES FOR MAKING REFERRALS TO SETTLEMENT SERVICE PROVIDERS
KICBACK
THE HISTORICAL AND FACTUAL SELLING PRICE OF A PROPERTY
MARKET PRICE