Real estate terminology.

[badmomma]

When it comes to real estate it is important to know the terminology. If you are entering into a contract of any kind knowing what it means will help you know that what you are signing is good for all parties concerned.

Here are a few common terms:

• • Appraisal: Professional valuation services
  • Brokerages: A mediator who charges a fee to facilitate a real estate transaction between the two parties.
  • Development: Improving land for use by adding or replacing buildings
  • Net leasing: In commercial real estate, a net lease requires the tenant to pay, in addition to rent, some or all of the property expenses which normally would be paid by the property owner (known as the "landlord" or "lessor"). These include expenses such as real estate taxes, insurance, maintenance, repairs, utilities and other items.
  • Property management: Managing a property for its owner(s)
  • Real estate marketing: Managing the sales side of the property business
  • Real estate investing: Managing the investment of real estate
  • Relocation services: Relocating people or business to a different country
  • Corporate Real Estate: Managing the real estate held by a corporation to support its core business—unlike managing the real estate held by an investor to generate income

These are only definitions or the terms. When used in a contract you will want to look at what everything means as a whole. Getting help from a real estate lawyer would probably be in your best interests.