Where cozy means tiny and charming means needs work.
Per Calendar Month—the rental industry's way of stating the bleeding obvious about monthly payments, because apparently 'monthly' wasn't clear enough. Commonly seen in real estate listings alongside other redundant acronyms designed to make basic concepts sound more professional. The 'ATM machine' of property jargon.
A contractual provision allowing agents to market properties privately before hitting the MLS, theoretically to preserve privacy but occasionally to preserve the agent's double commission. The VIP room of real estate.
A lawsuit filed by a co-owner to force the sale or physical division of jointly owned property when owners cannot agree on management or disposition. It's the legal sledgehammer for splitting property when co-ownership goes toxic.
The original loan amount borrowed, excluding interest, or in agency relationships, the person represented by an agent. Context is everything, because confusing the two can make closing statements deeply confusing.
A metric that pretends all square feet are created equal, whether they're in a penthouse or a basement. It's the real estate version of judging a book by counting the pages without reading any of them.
A valuation metric for multifamily properties calculated by dividing price by number of units, because apparently 'per unit' wasn't jargony enough. It's the real estate equivalent of price per ounce.
The closing day arithmetic splitting property expenses and income between buyer and seller based on ownership periods. It's the financial equivalent of splitting a restaurant check by who ordered what.
A preliminary environmental assessment investigating a property's potential contamination history through records review and site inspection, without actually testing soil or water. It's due diligence for avoiding EPA superfund surprises.
When borrowed money produces a higher return than the interest cost, making you look like a financial genius. It's the Holy Grail of real estate investing: using other people's money to make more money than you're paying them.