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Writing contracts in a clear and coherent manner, using words with common everyday meanings and appropriately divided and captioned by its various sections.
Dearborn Real Estate Education
This "Word of the day" is excerpted from The Language of Real Estate, 6th Edition by John Reilly (published by Dearborn Real Estate Education, 2006 copyright). To purchase the complete book, with over 2800 key terms and definitions, or to browse through Dearborn's hundreds of other professional real estate titles, including Real Estate Technology Guide by Klein, Barnett, Reilly, click here.
  

Recent Words

Short Sale
A sale of secured real property that produces less money than is owed the lender; also called a shor...
Short Sale
A sale of secured real property that produces less money than is owed the lender; also called a shor...
Phase 1 Audit
An initial evaluation of a property site to determine potential contamination or noncompliance with...
Business Opportunity
Any type of business that is for sale (also called business chance brokerage or simply business brok...
Agency
A relationship created when one person, the principal, delegates to another, the agent, the right to...
Historic Structures
A property listed in the National Register of Historic Places, located in a registered historic dist...
Backup Offer
An offer to buy submitted to a seller with the understanding that the seller has already accepted a...
Accrual Method
An accounting method of reporting income and expenses in which expenses incurred and income earned f...
Drug Enforcement Act
A 1988 federal law establishing the right of federal drug enforcement authorities to seize real prop...
Deed In Lieu Of Foreclosure
A deed to a lender given by an owner conveying mortgaged property in which the mortgage is in defaul...