property

Definition

Physical real estate or a tangible asset; what real estate agents spend 40% of their time showing you while you check your phone. The business of convincing people that paying $500k for a shoebox is 'an investment.'

Example Usage

The investment group bought three commercial properties in the downtown corridor.

Source: Real estate and property law terminology

Related Terms

Intermediate

construction lien

A legal claim filed by contractors, subcontractors, or suppliers against a property when they haven't been paid for work or materials. The construction industry's way of ensuring they don't become involuntary donors.

🏠 Real Estate

Intermediate

NOI

Net Operating Income—the annual revenue from a property minus operating expenses, before debt service and taxes. The number that actually matters when evaluating investment properties.

🏠 Real Estate

Advanced

right of first refusal

A contractual right giving someone the first opportunity to purchase a property before the owner can sell to others. It's like a permanent dibs on real estate.

🏠 Real Estate

Intermediate

upside

The potential for future value appreciation or income growth in a property, typically based on improvements, market trends, or repositioning strategies. It's what optimistic investors see when everyone else sees a money pit.

🏠 Real Estate

Advanced

non-conforming loan

Any mortgage that doesn't meet Fannie Mae or Freddie Mac guidelines, whether due to size, property type, or borrower qualifications. It's the misfit toy of lending, typically more expensive and harder to get.

🏠 Real Estate

Beginner

title search

A deep dive into public records to verify legal ownership and uncover liens, judgments, or claims. Property background check revealing whether you're buying real estate or a lawsuit.

🏠 Real Estate

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cwt

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