Also known as an inducement, concessions are cash equivalents or cash dispersed by a landlord in the formation of additional tenant finish allowance, rental abatementmoving expenses, cabling expenses, and others. The goal of...
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Column Spacing
Also referred to as clear span or bay depth, column spacing is the distance measured between posts or vertical supporting beams in a particular building.
Co-op
Short for housing cooperative, co-op is a kind of real estate that is unlike buying or owning a condo or renting an apartment. It refers to a housing unit both owned and controlled by a group of individuals who possess occupancy...
Earnest money
Also called good faith deposit, earnest money is a monetary advance that the buyer pays to the seller at the time of entering a contract. Its purpose is for the buyer to showcase their intention and ability to carry out the...
Feasibility Analysis / Market Feasibility
This is the process of evaluating a suggested project to decide whether or not it will satisfy the objectives assigned by the agents involved. Owners, investors, lessees, and developers are also included in this process.
Calendar Year
This refers to a one-year period using the actual number of days in each month. This begins on January 1 and ends on December 31. It has a total of 365 days, or 366 days if it's a leap year. For purposes of individual and...
Formal Region
This is a region that is identified either by its political jurisdiction or on the basis of the presence or absence of one or more distinguishing characteristics or features. Formal regions are composed of boundaries for cities...
Continuing Care Retirement Communities (CCRC’s)
These service a broad category of needs, including permanent skilled nursing care, independent living, and assisted living. They have high occupancy levels, and they are also known as life plan communities.
Deceptive Trade Practices Act
This is an act specified in the federal Consumer Protection Act that was originally passed in 1973 and made applicable to real estate in 1975. The Deceptive Trade Practices Act prohibits a lengthy number of misleading, deceptive...
Grantor
In a real estate transaction, the grantor is the one who sells the property. On the other hand, in a sale transaction, the grantor is the one transferring or conveying the title through a deed to the grantee.
