Dictionary

Definition:  An informal estimate of market value performed by a real estate licensee for the seller to assist in arriving at an appropriate listing price.  If working with a buyer giving an inform...

Definition: A recently sold property similar to one being evaluated.  Also called a comparable or comp. Pronunciation: \ˈkäm-p(ə-)rə-bəl \  \ˈprä-pər-tē\ Used in a Sentence:   The sales agent looke...

Definition:    An independent special district created pursuant to Florida law to service long-term detailed needs of its community.  A CDD constructs, operates, and maintains communitywide service...

Definition:  Real property acquired during a marriage. (FL is not a community property state). Pronunciation:   \kə-ˈmyü-nə-tē\ \ˈprä-pər-tē\ Used in a Sentence:   Because Florida is  not a communi...

Definition:  Judge-made law established in decrees and judgement of the courts (case law), as opposed to statutory law. Pronunciation:  \ˈkä-mən\ Used in a Sentence:    The judge applied the common...

Definition: The parts of a multiple-ownership property not included in each unit; those parts in which each unit owner holds an undivided interest. Pronunciation: \ˈkä-mən\\ˈel-ə-mənt-s\ Used in a ...

Definition: A percentage of the money received paid to a broker and/or sales associate for successfully concluding a real estate transaction. Pronunciation: \kə-ˈmi-shən\ Used in a Sentence:   The ...

Definition: To combine money or a deposit with personal funds. Pronunciation: \kə-ˈmiŋ-gəl, kä-\ Used in a Sentence:   It is against FREC regulations to commingle earnest money and personal funds.

Definition: A classification of real estate that includes income-producing properties such as shopping centers, gas stations, office buildings, restaurants and parking lots. Usually, must be zoned ...