Offer

Definition

A formal proposal to purchase a property at a specific price with certain conditions. Rejected offers are the real estate equivalent of getting ghosted, but with more legalese.

Example Usage

We submitted an offer of $410,000 contingent on inspection and appraisal.

Origin

From Latin 'offerre' meaning to present or propose

Fun Fact

In hot markets, it's not uncommon for homes to receive multiple simultaneous offers within hours—creating bidding wars that would make eBay jealous.

Source: Real estate contract law

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Legal rules governing how you can use your property, basically buying land with invisible chains attached.

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plottage

The increased value created when adjacent properties are combined into a larger, more useful parcel. It's the financial proof that sometimes the whole really is worth more than the sum of its parts.

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vacancy rate

The percentage of rentable space sitting empty and generating zero income, serving as a referendum on your property's appeal and your pricing strategy. Low is good; high means you're bleeding money.

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percentage rent

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habendum clause

The deed section beginning with 'to have and to hold' that defines the extent of ownership being conveyed. Medieval legal poetry that survived into modern contracts for no good reason.

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