A formal statement of the financial status and net worth of a person or company, setting forth and classifying assets and liabilities as of a specified date

A fee paid to someone for producing a buyer to purchase or a seller to list property; also called a referral fee

Raw land that has been prepared for the construction of buildings, including the installation of improvements such as sewer and electric lines, streets, public facilities and common areas, and so on. This phrase may refer to any unit of real property such as a lot, parcel, complex, or development.

The historic natural or man-made fire patterns in a given area; the frequency, intensity, severity, and distribution of historic fires, especially wildfires.

A definite undertaking by a lender to loan a set amount of money at a specified interest rate for a certain term

The right of a person to have the first opportunity either to purchase or lease real property

Definition: A single-round auction where all bidders submit their bids simultaneously and without knowledge of the offers made by competing bidders; usually the bids are in writing and delivered to the auctioneer in a sealed envelope. The highest bid wins the auction. The sealed-bid auction method does not allow for open, competitive bidding and is therefore not a true auction.
Also known as a sealed-bid auction or a sealed first-price auction.

Terms, Definitions, and Concepts: Auction, Real Estate

A business year used for tax, corporate or accounting purposes, as opposed to a calendar year

An article which was once personal property but has been so affixed to real estate that it has become real property (stoves, bookcases, trees and landscaping, etc.). If determined to be a fixture, then ownership of the article transfers with the real property even though it is not mentioned in the deed.

Deep, narrow inlet of the sea, between high, steep banks

A land parcel having the configuration of an extended flag and pole. The pole represents access to the site which is usually located to the rear of another lot fronting a main street.

A room or set of rooms divided from others in the same building and leased as a separate dwelling; usually including at least a bathroom, kitchen or kitchenette, and a sleeping area.
Also known as an apartment.

A flood wall, also known as a levee or dike, is a natural or man-made flood-control structure usually consisting of a wall or mound of earth (sometimes rock or stone) running generally parallel to a river or other drainage channel, or along ocean frontage. Flood walls help to contain floods within the channel by raising the height of the riverbank, thereby allowing the channel to hold a greater volume of water before flooding begins. Flood walls are also used to protect low-lying land near the ocean that has been reclaimed by pumping and dredging and developed, as in the coastal areas of Louisiana (United States) or the Netherlands.

Definition: The ratio of floor area of a structure to land area expressed as a percent or decimal, determined by dividing the total floor area by the total area of the parcel or lot.

Terms, Definitions, and Concepts: Appraisal, Legal (Law), Management, Real Estate, Zoning

A frequent practice in real estate brokerage offices of assigning one sales agent the responsibility for handling all telephone calls and office visitors for a specified period of time

One (1) foot is equal to 12 inches.
One (1) foot is equal to 0.3048 meters.
One (1) foot is equal to 30.48 centimeters.
One (1) foot is equal to 0.0152 chains.
One (1) foot is equal to 0.0015 furlongs.
One (1) foot is equal to 0.0003 kilometers.
One (1) foot is equal to 1.5152 links.
One (1) foot is equal to 0.00019 miles.
One (1) foot is equal to 0.0606 rods, poles, or perches.
One (1) foot is equal to 0.3333 yards.
See the various Converting feet to... entries for conversion examples.

(Plural: feet) A unit of length equal to 12 inches, taken from the average length of the human foot. One (1) foot is equal to 0.3048 meters. See also Foot (feet) equivalents and conversions and the various Converting feet to... entries.

Hill at or near the foot of a mountain or mountain range

Shallow place in a stream or other body of water where one can cross by wading

A legal procedure whereby property used as security for debt is sold to satisfy the debt in the event of default in payment of the mortgage note or default of other terms in the mortgage document

Thick growth of trees covering a large tract of land

See "US Forest Service"

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).

A of land is denoted as a fractional section if it is not a complete section (e.g., less than 640 acres due to a body of water).

Any form of deceit, trickery, breach of confidence or misrepresentation by which one party attempts to gain some unfair or dishonest advantage over another