Real Estate Glossary
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A contract where all parties are legally bound to act as the contract states.
An illegal practice where one person gets another to enter a real estate transaction where the first person could benefit financially by showing that a change may occur in the neighborhood including race, sex, religion, color, handicap, familiar status or ancestry of the occupants, a change possibly resulting in the lowering of the property values a decline in the quality of schools, or an increase in the crime rate.
breach of contract
identifies the percentage of EGI necessary to pay for all operating expenses and debt service. It is the point where cash flow begins. It is also the occupancy necessary to pay all expenses and debt service.
Since the BER describes the occupancy necessary to break-even, it can also be used as an indicator of the risk posed by such an investment. A lower break-even ratio means that a lower occupancy will satisfy the operating expenses and debt service and that would mean lower risk. The break-even ratio is calculated by dividing the total of the operating expenses and annual debt service by the effective gross income
the bringing together of parties interested in making a real estate transaction.
a written contract in which the seller or buyer becomes the client of the broker and promises to pay the broker a valuable consideration or agrees that the broker may receive a valuable consideration from another for producing a ready, able, and willing prospective buyer or seller, or performing other brokerage services.
Industrial properties that suffer from the presence of ecologically contaminated elements.