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Land Terms
Best management practices (BMP's)
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Bid
Terms, Definitions, and Concepts: Auction, Real Estate
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Bid caller
Also known as "auction crier" or "auction caller".
Terms, Definitions, and Concepts: Auction, Real Estate
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Bid discovery
Terms, Definitions, and Concepts: Auction, Real Estate
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Bid rigging
1. A secret, illegal agreement between two or more auction bidders to place bids in such a way as to influence the auction outcome, as when two bidders agree to refrain from bidding against one another in order to keep the price of an item artificially low.
2. An illegal agreement between an auctioneer and a seller of an item to place and accept fictitious bids in order to artificially increase the price of the item.
Terms, Definitions, and Concepts: Auction, Real Estate
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Bidder's choice
Also known as high bidder's choice.
Terms, Definitions, and Concepts: Auction, Real Estate
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Bilateral contract
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Bill of sale
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Binder
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Blackjack pine
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Blanket mortgage
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Blighted area
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Block Number
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Blockbuster
Example: A real estate investor spreads rumors in a predominantly Asian neighborhood that a Latino family is considering purchasing a home there, which will bring undesirable elements and lower nearby property values. The investor hopes that people in this area will sell their homes to him at a price that is less than market value because they are alarmed the arrival of the newcomers will result in even lower home values or other undesirable neighborhood conditions. Under the Federal Fair Housing Act, it is illegal even to suggest that changes will occur in a neighborhood because persons of a protected class have moved there or will move there.
Terms, Definitions, and Concepts: Real Estate, Legal, Management
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Blockbusting
Same as Panic selling.
Example: A real estate investor spreads rumors in a predominantly Asian neighborhood that a Latino family is considering purchasing a home there, which will bring undesirable elements and lower nearby property values. The investor hopes that people in this area will sell their homes to him at a price that is less than market value because they are alarmed the arrival of the newcomers will result in even lower home values or other undesirable neighborhood conditions. Under the Federal Fair Housing Act, it is illegal even to suggest that changes will occur in a neighborhood because persons of a protected class have moved there or will move there.
Terms, Definitions, and Concepts: Real Estate, Legal, Management
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Blue sky laws
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Bluff
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Board feet (Board foot, Board feet of lumber) popular
A board foot is a lumber measurement equal to a board or plank of wood 1 inch thick and 12 inches on each side. The formula for calculating board feet of sawed lumber is bd ft = thickness(in) x width(in) x length(ft)/12. For example, a board that is 1 inch thick, 12 inches wide, and 10 feet long contains 10 board feet of lumber(1x12x10/12=10).
Also known as "Board feet of lumber".
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Board feet log scale (Board-feet log scale) popular
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Board foot equivalents
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Bog
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Bole popular
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Bona fide
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Boone and Crockett (B&C) rules
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Boone and Crockett (B&C) Club
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