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Flashcards in real estate 3 Deck (25)
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1

WHEN THE VALUE OF A SUPERIOR PROPERTY IS NEGATIVELY INFLUENCED BY THE SURROUNDING INFERIOR PROPERTY

REGRESSION

2

EMPLOYMENT AGREEMENT BETWEEN THE OWNER AND THE RELATIONSHIP, SCOPE OF MANGEMENT DUTIES AND RESPONSIBILITIES

MANAGEMENT AGREEMENT

3

NOTICE PRESUMED BY LAW AS A RESULT OF RECORDING DOCUMENTS

CONSTRUCTIVE NOTICE

4

THE POTENTIAL USE OF THE PROPERTY THAT WOULD PRODUCE THE HIGHEST INCOME OR VALUE

HIGHTEST AND BEST USE

5

THE MOST PROBABLE PRICE A PROPERTY WOLD SELL UNDER SPECIFIC CONDITIONS (ARM,S LENGHT, OPEN MARKET

MARKET VALUE

6

WHEN A TENANT VACATES A PROPERTY THE LANDLORD FAILED TH PROVIDE ESSENTIAL SERVICE

CONSTRUCTIVE EVICTION

7

A LEASEHOLD INTEREST FOR A FIXED PERIOD OF TIME WITH DEFINITE BEGINING AND ENDING DATES, MUCH LIKE A LEASE

ESTATE FOR YEARS

8

THE CURRENT COST TO REBUILD THE STRUCTURE WITH A BUILDING OF SIMILAR UTILITY BUT WITH MODERN MATERIALS AND CONSTRUCTION STANDARDS

REPLACEMENT COST

9

SOMETIMES CALLED BUILDERS TRADE BREAKDOWN OR THE COMPONENT METHOD, A METHOD OF ESTIMATING COST BY TRADES OR INDIVIDUAL BUILDING COMPONENT

UNIT IN PLACE

10

SCHEDULED MAINTENANCE TO PREVENT COSTLY REPAIRS AND REPLACEMENTS, ANNUAL SERICING

PREVENTIVE MAINTENANCE

11

AN INDEFINITE LEASEHOLD, VERY INFORMAL, DEATH OF EITHER PARTY WILL TERMINATE

ESTATE AT WILL

12

THE INCOME APPROACH FOR SINGLE FAMILY RENTALS UP TO UNITS
GRM X MONTHLY RENT= VALUE

GROSS RENT MULTIPLIER

13

THE INCREASE IN VALUE RESULTING FROM THE ASSEMBLAGE

PLOTTAGE

14

AN OPINION OF VLUE

APPRAISAL

15

ALTERATIONS TO A BUILDING OR SPACE TO SUIT THE TENANT NEEDS

TENANT IMPROVEMENT

16

THE CURRENT COST TO REPRODUCE THE STRUCTURE WITH AN EXACT DUPLICATE USING THE SAME MATERIALS AND CONSTRUCTION STANDARDS

REPRODUCTION COST

17

SOMETIMES CALLED THE SQUARE FOOT METHOD, A TECHNIQUE TO ESTIMATE COST NEW ON AN OVERALL COST PER SQUARE FOOT BASIS

COMPARISON METHOD

18

MINOR REPAIRS INTENANDED TO KEEP EQUIPMENT FUNCTIONING,

CORRECTIVE MANTENANCE

19

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

20

A LOSS IN VALUE AGAINST COST NEW CAUSED BY PHYSICAL DETERIORATION, FUNCTIONAL OR EXTERNAL OBSOLESCENCE

DEPRECIATION

21

issued by the local building inspector after completion and prior to occupancy

certificate of occupancy

22

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

23

THE MATHEMATICAL DIVIDING OR SHARING OF FINANCIAL REPONSIBILITY BETWEEN THE BUYER AND SELLER WITH THE AMOUNTS ENTERED ONTO THE CLOSING STATEMENT

PRORATION

24

ILLEGAL UNEARNED FEES FOR MAKING REFERRALS TO SETTLEMENT SERVICE PROVIDERS

KICBACK

25

THE HISTORICAL AND FACTUAL SELLING PRICE OF A PROPERTY

MARKET PRICE