Real Estate Definitions “Time is of the essence”AgentAgreement of saleAlienationAlienation clauseAmendmentsAmenitiesAppraisalAppreciationArbitrationAssessmentBalloon paymentBeneficiaryBreach of contractBrokerBroker Agent (Salesperson)Brokerage OwnerBuilding restrictionsBusiness planCapital GainCapital investmentCapitalizationCapitalization RateCash flowClosingClosing or CompletionCMACollateralCommercial PropertyCommercial ZoneCommissionComparable (Comps, Sales Comps)Comparable Market AnalysisContingenciesContractContract for deedCost approachCounterofferDebtDeedDefault Deposit or Down PaymentDown PaymentEarnest MoneyEndorsementEquityEscrowEthical Exclusive Listing AgreementExclusive right to sell listingExclusive-agency listingExecution ExecutorExpensesFixtureFor Sale By AgentFor Sale By Owner (FSBO)ForeclosureFranchiseFraud Freehold estateFuture interestGranteeGrantorHeirHighest and best useIncome approachIndependent contractorIndustrial propertyInspectionInstalment ContractInstalment saleInterestJoint tenancyJoint ventureJudgmentJudgment clauseLandLeaseLeasehold estateLesseeLessor Lessor, Landlord, Property OwnerLienListing Listing agreementLoanManagement agreementMarket priceMarket value Market/data approachMortgageMortgage lienMulti-FamilyMultiple Listing Service (MLS)NegligenceNet IncomeNet leaseNet operating incomeNotary publicNovationOpen listingOpen Listing AgreementOptionOwnershipPartnershipPower of attorneyPreliminary DepositPremisesPrepayment clausePrepayment penaltyPriorityPropertyProperty InvestmentProperty managementProperty Tax“Ready, willing, and able” Real estateReal Estate BrokerReal estate brokerReal Estate PropertyReal Estate Purchase/Sale AgreementREALTOR®RentRent scheduleReplacement costResaleResidential Rights Over Leasehold AssetSales contractSalespersonShort sale / Fire SaleSingle FamilySpecific Business Tax Stamp DutySublettingSubstitutionSurveyTenantTermination (lease)Termination of listingThe original amountThe Terms “Agent” and “Broker” TitleTitle DeedTitle InsuranceTransfer FeeValueWithholding TaxYieldZoning