Dictionary

Definition: A broker that specializes in the sale or lease of a business or business opportunity. Pronunciation: ˈbiznəs ˈbrōkər Used in a Sentence: We are going to hire a business broker to find a buyer for our business.

Definition: A formal (written) opinion of value for a property determined by a broker. Additional Information: Usually used for distressed properties such as short sales. Pronunciation: ˈbrōkərs prīs əˈpinyən Used in a Sentence: The lender would like a BPO of the property in question.

Definition: Someone who estimates value Pronunciation: əˈpreɪzə(r) Used in a Sentence: The appraiser is going to estimate what we our house is worth.

Definition: The act of estimating an opinion of property value. Pronunciation: əˈprāzəl Used in a Sentence: We are having an appraisal done to see if the property is really worth what they say.

Definition: An owner of real property that does not live on the premises. Additional Information: An absentee owner usually requires a property manager to maintain the premises. Pronunciation: absənˈtē ˈōnər Used in a Sentence: Due to an increase in demand for rental property, there has also been an increase in absentee owners.