REA-FC12 2025

The real estate broker’s opinion of the expected final net sale price before property acquisition.

• Broker’s price opinion (BPO)

• Market analysis report

• Property valuation estimate

• Sales comparison approach

The actual sale price after the seller successfully markets and sells his or her home through the broker of his or her choice. The sale is turned over to a third-party relocation company for closing, and the guaranteed offer is amended or changed.

• Amended value

• Final sale price

• Market value

• Broker's commission

Property ownership by one person rather than ownership by more than one person.

• Several tenancy

• Joint tenancy

• Tenancy in common

• Sole ownership

An Internet-based real estate brokerage model that works with consumers like a traditional brokerage.

• VOWs (Virtual Office Web sites)

• MLS (Multiple Listing Service)

• REITs (Real Estate Investment Trusts)

• BPOs (Broker Price Opinions)

An additional sign placed on a brokerage yard sign that may include the agent’s name, 'open Sunday,' 'contract pending,' 'sold,' the new price, etc.

• Sign rider

• Open house sign

• For sale sign

• Price adjustment sign

The rate at which real property is taxed in a tax district or county.

• Tax rate

• Assessment ratio

• Property value

• Tax levy

A construction specialist who enters into a formal construction contract to construct a real estate building or project.

• General contractor

• Project manager

• Construction supervisor

• Real estate developer

A defect in the chain of title of a parcel of real estate; a missing document or conveyance that raises doubt about ownership.

• Gap (in real estate terms)

• Lien

• Easement

• Encroachment

A sale of secured property that produces less money than is owed to the lender, where the lender releases its interest to expedite the sale and avoid foreclosure.

• Short sale

• Foreclosure

• Equity sale

• Loan modification

A lien on all real and personal property owned by a debtor.

• Specific lien

• General lien

• Equitable lien

• Statutory lien