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A -
Real Estate Glossary |
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Administrator
A person who is appointed by a probate court to settle the affairs of an
individual dying without a Will.
Advertising
Purchased space in newspaper, magazine or other medium used to attract
public attention to a commodity for sale or lease.
Agency Fee
Fees that are charged by Estate Agent to the vendor/landlord upon
successful closing of transactions and signing of Sale and Purchase
Agreement / Tenancy Agreement.
Anchor Tenant
A major department store in a shopping center. Also called key tenant.
Appraisal Estimate and Opinion of Value
A conclusion resulting from analysis of facts by a qualified appraiser
or valuer.
Appraised Value
Assessed value of real property in the opinion of a qualified appraiser
or valuer.
Appreciation
Increase value of an asset over the normal life-time.
Assessment
i. A monthly fee paid by cooperative and condominium members to cover
maintenance costs for the property.
ii. A special real estate tax levied by the municipal or local
government to finance improvements in an area.
Auction
A public sale of property to the highest bidder after successive
increased bids are made.
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