Definition: a cause of depreciation in a property, can be external or functional Pronunciation: \ˌäb-sə-ˈles-əns\ Used in a Sentence: The lack of enough bathrooms in the house is an example of functional obs..
Category : O
Definition: the percentage of rental units that are occupied Pronunciation: \ˈä-kyə-pən(t)-sē\\ˈrāt\ Used in a Sentence: The occupancy rate for the apartment building was high due to only a few em..
Definition: a promise by one party to act or perform in a specified manner, provided the other party acts or performs in the manner requested Pronunciation: \ˈȯ-fər, ˈä-\ Used in a Sentence: An offer demonstrates an intention to enter into a..
Definition: a branch of the U.S. Treasury Department that replaced the Federal Home Loan Bank Board as regulator of the thrift industry Pronunciation: Used in a..
Definition: a listing given to any number of brokers who can work simultaneously to sell the owner’s property Pronunciation: Used in a Sentence: An open listing is often used by builders or co..
Definition: the purchase and sale of U.S. Treasury and federal agency securities Pronunciation: \ˌä-pə-ˈrā-shən\ Used in a Sentence: The Fed’s principal and most effective tool for implementing monetary policy is open market o..
Definition: an opinion by a person competent in examining titles, such as a title attorney, as to the status of the record title of a property Pronunciation: \ə-ˈpin-yən\ \tī-təl\ Used in a Sentence: An opinion of title is not a guarantee..
Definition: an estimate of a property’s worth given by a licensee for the purpose of a prospective sale Pronunciation: \ə-ˈpin-yən\ \ˈval-(ˌ)yü\ Used in a Sentence: The agent gave his opinion of value on the property we were interested ..
Definition: an agreement to keep open for a specified period of time an offer to sell or lease real property Pronunciation: \ˈäp-shən\ \ˈkän-ˌtrakt\ Used in a Sentence: An option contract can be used to give a buyer time to resolve questions..
Definition: the party who takes and option and pays a consideration Pronunciation: \ˌäp-shə-ˈnē\ Used in a Sentence: The optionee had the exclusive rights to buy the property during the specified perio..