duplex

Definition

A single building cleverly divided into two separate dwelling units, allowing property owners to live in one half while collecting rent from neighbors who share their walls. It's the real estate equivalent of having your cake and eating it too, assuming you don't mind hearing your tenant's TV through the drywall. In postal circles, it's also a fancy stamp cancellation, but nobody cares about that definition anymore.

Example Usage

They purchased a duplex in the suburbs, living upstairs while renting out the ground floor to cover their mortgage.

Source: Common real estate terminology

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dual agency

When one agent represents both buyer and seller in the same transaction, creating a conflict of interest wrapped in a commission opportunity. It's like having the same lawyer represent both parties in a divorce.

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debt service coverage ratio

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buyer broker agreement

A contract binding a buyer to an agent for a specific period, ensuring the agent gets paid even if the buyer tries to ghost them after months of work. It's basically a pre-nup for the house-hunting relationship.

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due diligence period

The window of time when buyers can inspect, investigate, and potentially back out of a deal without penalty. It's when you discover that 'vintage charm' actually means 'original 1950s electrical wiring that might kill you.'

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