Studying for your real estate license exam? Check out our resources on all the definitions you need to know while studying for your real estate exam.
Government powers within the world of real estate can be complex. In short, government powers enforce laws to promote the general welfare of the United States and its people. What is Government Power? Definition: Government power is the constitutional authority …
A contingent listing generally means the seller has accepted an offer and the purchase agreement contains one or more unresolved conditions. Listing labels and whether backup offers are accepted depend on the local listing system and the seller’s circumstances. What …
A lien gives someone else a right to something you own. Liens are something not often talked about, although they should be. Liens can make your life a huge mess! Or, in some instances, be a lifesaver. In short, a …
A leasehold estate, also called a less-than-freehold estate, gives a tenant a possessory interest in property under a rental arrangement. It does not give the tenant the landlord’s ownership estate. Whether the tenant may assign or sublease that interest depends …
So how do estates work, and what are they? Well, estates can be divided into two different sections: freehold estates and leasehold estates. In this article, we will cover freehold estates. A freehold estate is an estate in which you …
When you hear agents say, “Check out this beautiful house. It’s MASSIVE,” and it’s actually not. It’s called puffing. What is Puffing? Definition: The term puffing refers to “extravagant claims made by sellers in order to attract buyers.” In plain …