Real Estate Term of the Day: Asking Price ASKING PRICE – the list price that an owner would like to receive for their property (Barron’s Dictionary of Real Estate Terms) Here are a few things to consider when trying to understand how the asking price should be properly arrived at: What are similar homes selling … More Real Estate Term of the Day: Asking Price
Real Estate Term of the Day: As Is AS IS – property is sold without guarantees as to condition. Premises are accepted by a buyer as they are including physical defects (Barron’s Dictionary of Real Estate Terms) Most bank owned properties (such as REOs, HUD homes, foreclosures) and short sale properties are sold in as … More Real Estate Term of the Day: As Is
Real Estate Term of the Day: Asbestos ASBESTOS – insulation material frequently used in older buildings as pipe wrap, boiler insulation, floor tile, and ceiling coating (called Asbestos-Containing Material or ACM). Asbestos may become brittle with age. In that condition, it may crumble and release particles which, like dust, become airborne. Breathing asbestos particles may … More Real Estate Term of the Day: Asbestos
Real Estate Term of the Day: Arrears ARREARS – at the end of a term. Interest on a mortgage loan and property taxes are the most common items in real estate that are paid in arrears (Barron’s Dictionary of Real Estate Terms) Property taxes in Colorado are paid in arrears. For example, in 2011 properties … More Real Estate Term of the Day: Arrears
LESLIE MONACO REAL ESTATE 