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Appraisal: The estimated current market value of a property, as determined by a professional appraiser -- usually by comparing the property to recent sales of similar ones. Assessed value: The ...
The Real Property Administrator (RPA) designation is a professional designation for commercial property managers awarded to people with several years of experience and completing the Building Owners and Managers Association advanced study program. [1] [2] The designation is administered by Building Owners and Managers Institute (BOMI ...
Renting, also known as hiring [1] or letting, [2] is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord.
Real estate agent. Lawn signs advertising houses for sale. Real estate agents and real estate brokers are people who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. [1]
Property technology (also known as by the portmanteaus proptech, PropTech, prop-tech and also known as real estate technology) is used to refer to the application of information technology and platform economics to the real estate industry. [1] [2] Property technology overlaps with financial technology, including uses like online payment and ...
Equity stripping, also known as equity skimming, is a type of foreclosure rescue scheme. Often considered a form of predatory lending, equity stripping became increasingly widespread in the early 2000s. In an equity stripping scheme an investor buys the property from a homeowner facing foreclosure and agrees to lease the home to the homeowner ...
Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and ...
Real estate license. A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and many ...
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