Dictionary

Definition:   The rate to which the interest rate on an adjustable rate mortgage is tied. Pronunciation:   \ˈin-ˌdeks\ \ˈrāt\ Used in a Sentence:    The interest rate on one-year US Treasury securi...

Definition:   An appraisal term referring to the external or functional obsolescence of an improvement where the cost to correct it is greater than the value added by the cure. Pronunciation:  \(ˌ)...

Definition:  A summary of all income and expenses of a business for a specific period o f time. Pronunciation: Used in a Sentence:   We had our accountant prepare an income statement for the proper...

Definition:   A method for estimating the market value of a property as determined by the amount of income it will provide over its remaining economic life. Pronunciation:   \ˈin-ˌkəm\ \ə-ˈprōch\ U...

Definition:    Income that is earned from work, investments, business, etc. Pronunciation:   \ˈin-ˌkəm\ Used in a Sentence:   Our annual income was adequate to qualify for the loan amount needed.

Definition:   A valuable addition made to real property that increases its value, not repairs. Pronunciation:   \im-ˈprüv-mənt\ Used in a Sentence:    The addition of another bathroom to the house ...

Definition:   A listing that arises by implication from the conduct of the broker and the seller and may be enforceable even though not in writing. Pronunciation:   \im-ˈplīd\ \ˈlis-tiŋ\ Used in a ...

Definition:    An unwritten contract where the terms are inferred from the actions of the parties. Pronunciation:    \im-ˈplīd\ \ˈkän-ˌtrakt\ Used in a Sentence:   We had an implied contract with t...

Definition:  Expressed indirectly (e.g. an implied contract) Pronunciation:    \im-ˈplī\ Used in a Sentence:   His words implied a contract was possible.