Dictionary

Definition: A document given subject to the writing of a formal contract for sale, usually acknowledging receipt of a portion of the down payment for the purchase of real property. Pronunciation: \...

Definition: An agreement in which both parties are legally obligated to each other to perform. Pronunciation: \(ˌ)bī-ˈla-t(ə-)rəl\ Used in a Sentence:   Once an offer was accepted, the seller was o...

Definition: A two-year period. Pronunciation: \bī-ˈe-nē-əm\ Used in a Sentence:  A real estate license has a biennial renewal period.

Definition: The resulting amount when annual debt service is subtracted from net operating income.  Also called gross spendable income or cash throw off. Pronunciation: Used in a Sentence:  Our bef...

Definition: Imaginary lines running east and west and crossing a principal meridian at a definite point; used by surveyors for reference in locating and describing land under the government survey ...

Definition: Businesses that attract outside money into the area. Pronunciation:\ˈbās ˈin-(ˌ)dəs-trē\ Used in a Sentence:   The Orlando area  has a large number of base industries that attract touri...

Definition: A type of deed in which title is transferred and a limited number of warranties are made regarding title to or use of the property. Pronunciation: \ˈbär-gən\ Used in a Sentence:   When ...

Definition: A single, large payment made at maturity of a partially amortized mortgage to pay off the debt in full. Pronunciation: \bə-ˈlün\ Used in a Sentence:   At the end of his loan period, the...

Definition: A financial report that show’s a company’s financial position at a stated period of time Pronunciation: \ˈba-lən(t)s\ Used in a Sentence:   The buyer requested to see the balance sheet ...