Definition: A recently sold property similar to one being evaluated. Also called a comparable or comp. Pronunciation: \ˈkäm-p(ə-)rə-bəl \ \ˈprä-pər-tē\ Used in a Sentence: The sales agent looked for a comparable property in the nei..
Category : C
Definition: An informal estimate of market value performed by a real estate licensee for the seller to assist in arriving at an appropriate listing price. If working with a buyer giving an informal estimate of market value to help arrive at an appropriate offering price. Pronunciation: \kəm-ˈper-tiv\ \ˈmär-kət\ \ə-ˈna-lə-səs\ Used in a Sentence: The agent provided a comparative ..
Definition: Anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received for a service provided. Pronunciation: \ˌkäm-pən-ˈsā-shən \ Used in a Sentence: The builder offered a reduced price for the upgraded flooring as compensation for ..
Definition: A party to a contract who possesses the legal capacity to enter into a binding contract. Pronunciation: \ˈkäm-pə-tənt\ Used in a Sentence: The elderly owner was deemed competent to sign the contract for the sale of his..
Definition: A person who makes a formal charge in court saying that someone has done something wrong. (See also plaintiff). Pronunciation: \kəm-ˈplā-nənt\ Used in a Sentence: The complainant charged that the defendant had broken the ironclad contract that both h..
Definition: A formal charge or allegation. Pronunciation: \kəm-ˈplānt\ Used in a Sentence: A copy of the complaint was sent to the subject’s..
Definition: A declaration of policies for the future physical development of an area. (Also called a master plan). Pronunciation: \ˌkäm-pri-ˈhen(t)-siv, -prē-\ Used in a Sentence: The comprehensive plan for the area allowed for the building of a new hospital in t..
Definition: To hide something from sight or to keep something secret. Pronunciation: \kən–ˈsēl-mənt\ Used in a Sentence: The broker could be charged with concealment for not revealing that the area was prone to..
Definition: A provision in Florida’s Growth Policy Act that requires water and waste treatment facilities needed to support new populations be in place before new development is allowed. Pronunciation: \kən-ˈkər-ən(t)-sē, -rən(t)-sē\ Used in a Sentence: Due to the concurrency provision, the new construction had to be curtailed until the new treatment plant was ..
Definition: Ownership by two or more persons at the same time, such as joint tenants, tenants by entirety, or tenants in common. Pronunciation: \kən-ˈkər-ənt, -ˈkə-rənt, kän-\ Used in a Sentence: The husband and wife owned the property under concurrent owners..