Real Estate Terms

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Commission

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A fee paid to an agent or employee for transacting a piece of business or performing a service.

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Net to Seller

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Sale price minus commission and expenses.

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Tax Rate

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Assessed value multiplied by the tax rate.

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Estates

Back

Legal rights and interests in property.

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Agency Relationship

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A relationship where one party, the agent, is authorized to act on behalf of another, the principal.

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Fair Housing

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Laws that prohibit discrimination in housing based on race, color, religion, sex, or national origin.