Category: Real Estate Term of The Day

Real Estate Term of the Day: Distressed Property

February 24, 2012

Real Estate Term of the Day: Distressed Property DISTRESSED PROPERTY (aka: Distressed Sale) – real estate that is under foreclosure or impending foreclosure because of insufficient income production, mortgage default or other proven hardship (such as: job loss, divorce, medical emergency/sudden illness, bankruptcy or death) (Barron’s Dictionary of Real Estate Terms) Examples of distressed properties … More Real Estate Term of the Day: Distressed Property

Real Estate Term of the Day: Disclosure Statement

February 23, 2012

Real Estate Term of the Day: Disclosure Statement DISCLOSURE STATEMENT – a statement required by law, in which sellers of particular kinds of property, or under certain circumstances, must reveal specified information to potential buyers (Barron’s Dictionary of Real Estate Terms) According to the Colorado Exclusive Right-to-Sell Listing Contract (Section 18.2 SELLER’S OBLIGATIONS); the disclosure by the … More Real Estate Term of the Day: Disclosure Statement

Real Estate Term of the Day: Developer & Development

February 22, 2012

Real Estate Term of the Day: Developer & Development DEVELOPER – one who transformed raw land to improved property by use of labor, capital, and entrepreneur efforts (Barron’s Dictionary of Real Estate Terms) Developers buy land, finance real estate deals, build or have builders build projects, create, imagine, control and orchestrate the process of development from … More Real Estate Term of the Day: Developer & Development

Real Estate Term of the Day: Detached Housing

February 21, 2012

Real Estate Term of the Day: Detached Housing DETACHED HOUSING (aka: Detached Single Family) – residential buildings in which each dwelling unit is surrounded by freestanding walls and is generally sited on a separate lot.  Contrast with attached housing (Barron’s Dictionary of Real Estate Terms) Benefits of detached housing vs attached housing: Typically offers a … More Real Estate Term of the Day: Detached Housing