Real Estate Glossary

Real Estate Glossary

There are 282 entries in this glossary.
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Term Main definition

A system in which a single entity is responsible for both the design and construction of a facility, often involving the fast-track method of construction; also referred to as "design/construct."

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The act of taking (legally or illegally) personal property and retaining control until the property owner performs an obligation. Commonly, a landlord takes possession of personal property of a tenant in default until the default is satisfied.

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Distress Sale

The sale of property under less than favorable conditions. Usually, the seller is experiencing financial difficulties and is under extreme pressure to sell.

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Earnest Money

The monetary advance by purchaser of part of the purchase price as evidence of good faith. The earnest money is used to bind the parties to the contract of sale. Also known as "Deposit."

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A right to use the property of an other created by grant, reservation, agreement, prescription or necessary implication. It is either for the benefit of land "appurtenant," such as the right to cross A to get to B, or "in gross," such as public utility easement.

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Economic Feasibility

A project's feasibility in terms of costs and revenue, with excess revenue establishing the degree of feasibility.

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Economic Rent

Calculations or analysis to determine market rental value of a property at any given time, even though the actual rent may be different.

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Effective Rent

The rental rate actually achieved by the landlord after deduction the value of concessions from the base rental paid by a tenant, usually expressed as an average rate over the term of the lease.

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Efficiency Factor

The number resulting from dividing the Usable Area by the Gross Building Area in a office building, providing a benchmark measurement for the building's use as an office building.

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Eminent Domain

A right of the government to acquire private property for public use by condemnation, in return for just compensation. See Also: Condemnation

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Generally, a structure which extends impermissibly over a property line, easement boundary or building setback line.

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Any right to, or interest in, real property that may exist in one other than the owner, but which will not prevent the transfer of fee title. A claim, lien, charge or liability, attached to and binding real property.

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Environmental Impact Report

A report generally prepared by an independent company detailing the probable environmental effect of it development on the surrounding area.

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The value of one's interest in a property, consisting of its fair market value less any outstanding debt or other encumbrances.

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Equity Kicker

Also called a participation loan. Under this kind of loan--often used by non-bank lenders with start-up businesses--the lender gets not only interest payments and principal repaid, but the right to buy equity (part ownership in the company) as well. Equity participation is generally required for riskier deals or in return for lower rates.

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San Francisco Property Management

47 Kearny Street
San Francisco, CA 94108


Phone: 415-981-5780
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California DRE #01183885