Real Estate Terms A

Well, real estate is always good, as far as I'm concerned. - Donald Trump

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Abstract (of Title) - A public records summary relating to the title of a particular piece of property. Before a buyer can purchase a clear, marketable and insurable title,  any title defects must be cleared.  See Cloud on Title.

Accessed Value - The valuation placed by the public tax assessor on property for purposes of taxation.

Accessory Building - A separate structure from the main structure on a property. Usually a workshop, garage or storage shed.

accredited buyer representativeAccredited Buyer Representative - The ABR® designation by the Real Estate Buyer's Agent Council (REBAC) of the National Association of Realtors® certifying excellence in buyer's representation.  Recipients of the accreditation have met certain additional educational and practical experience set by the NAR.

Accretion - The natural growth of a piece of land resulting from natural forces.

Acre - A measurement of area.  An acre is 43,560 square feet.

Actual Age - The amount of time that has passed since a structure was built.

Addendum - A supplement to any document that contains additional pertinent information. Appraisers typically use an addendum to further document things when isn't enough space on the appraisal form.

Age Restricted - Community where the owner of the property must be over the age of 55.  For example, the communities of Ardiente and Sun City Anthem are age restricted. Some communities have further age restrictions as to the occupants of the property.

Agreement of Sale - Also known as contract of purchase or purchase agreement. A contract to purchase with specific terms spelled out in writing that is signed and agreed to by both parties.

All Inclusive Deed of Trust(AIDT) -

Amenity - Any feature of a property that increases its desirability or monetary value. For example, view or promixity to lakes or mountains, parks and swimming pools.

Andalusian - An architectural style named after a part of Spain based on Moorish design featuring traditional glazed tiles and ornate iron coverings over the windows.

Appraisal - A dollar figure given to a  property by an appraiser, based on an analysis of the property and of completed sales of similar properties in the same area.

Appraised Value - A dollar figure given to a  property by an appraiser, based on an analysis of the property, completed sales of similar properties in the same area, the appraiser's knowledge and experience.

Appraiser - An individual qualified by education, training and experience to estimate the market value of real property.

Appreciation  - The rise in value of a property due to changes in market conditions as well as other conditions.

Assessment - Establishing a value on property for the basis of taxation.

Assessment Report - The report appraisers use to record market analysis, property values and any important information regarding the appraised property.

Assessor - Public official who assesses the value of a property for the basis of taxation.

Asset - Any item of value owned by an individual, like real estate, bonds, personal property and stocks.

Assignment - The transfer of  ownership of your mortgage from one company to another.

Attached Housing - Any number of dwellings that are physically attached to one another, but are owned and occupied by different people.

Real Estate Glossary