Real Estate Terms Part 3

If you're thinking of buying or selling a home this winter it's time to get started! An economy that’s improving every day, combined with low interest rates makes for a great market! This upcoming season is predicted to exceed expectations with home sales! To learn more about the overall market and working with a North Raleigh real estate agent, get familiar with a few of the terms below, so that you're able to understand the lingo and how things are going!

Terms to Know | North Raleigh Real Estate Agent

  • Uniqueness - Each piece of land is unique and not identical to any other piece of land
  • Trust - A form of ownership where a person (trustor) turns his interest in property to be managed by a professional (Trustee) for the benefit of a third-party (beneficiary).
  • Tenancy - at sufferance A tenant continues to hold possession without the consent of the landlord
  • Syndicate - Not a form of ownership, although it is the joining together of two or more parties to create and operate a real estate investment
  • Permanence - (Indestructibility) land remains forever
  • Partnership - An association of two or more persons to carry on a business as co-owners and share in the profits and losses of the business.
  • Limited Partnership - At least one general partner who is personally responsible for the debts.
  • Immobility - The first physical characteristic of land
  • GLA - Gross living area
  • General Partnership - Exists when all partners participate in the operation of the business, and may be held accountable for business losses and obligations
  • Deed - Real property ownership document
  • Corporation - A distinct separate entity from the stockholders who own it. Has the right to perpetual existence and the death or bankruptcy of anyone stockholder does not affect it.
  • Community - property Husband and wife are equal partners in property acquired during marriage
  • Business - organizations A legal entity that allows more than one person to invest interest in the same piece of property
  • Blue Sky Laws - Mandate that a syndication must have reasonable expectation of profit when selling interest in business projectsa
  • Antenuptial Agreement - Given to couples to ensure that separate property ownership is preserved in the occurrence of death of one of the spouses

Our North Raleigh real estate agent will continue to keep you updated home sales in the U.S. as well as have more terms for you to learn in the next few blog posts. That way, you’ll be able to make an informed decision on whether or not it’s the right time for you to list your home on the market! Be sure to visit back with our blog soon!

Roark Premier Team | North Raleigh Real Estate Agent

If you’re considering buying a home, contact our North Raleigh real estate agent at Roark Premier Team, today! It's time to get started with the process of searching for your dream home! In addition, we will work with you, until you find your next home! So what are you waiting for? Call now! At Roark Premier Team we have a North Raleigh real estate agent standing by to help you get your home sold during one of the busiest times of the year for real estate!

Ready to sell? We can help you with that, as well! Our North Raleigh real estate agent is here to help you with all your real estate needs! Don't hesitate to call us today!

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