🔄1031 Exchange

A tax-deferred exchange of investment properties.

🧑‍💼Agent

A licensed professional who helps buy or sell property.

📉Amortization

The gradual repayment of a mortgage over time.

🏢Apartment

A self-contained housing unit in a larger building.

📊Appraisal

An expert estimate of a property's market value.

📈Appreciation

An increase in the value of a property over time.

📊Assessment

The official valuation of a property for taxation.

🏦Bank-Owned Property

A property repossessed by a lender after foreclosure.

🧑Borrower

A person who takes out a mortgage loan.

🤝Broker

A person who arranges property transactions for a commission.

📕Building Code

A set of regulations specifying minimum standards for buildings.

🛒Buyer

A person purchasing a property.

🛒Buyer's Market

A market favoring buyers with abundant supply and lower prices.

📊Cap Rate

The ratio of net operating income to property value.

💧Cash Flow

The net movement of cash into and out of a property.

💵Cash-on-Cash Return

The ratio of annual cash flow to cash invested.

✅Closing

The final step in a property transaction where ownership transfers.

🧾Closing Costs

Fees paid at the completion of a property transaction.

🏢Commercial Property

Real estate used for business purposes.

📊Comparative Market Analysis

Evaluating similar properties to determine market value.

🏢Condominium

A building where units are individually owned and common areas shared.

❓Contingency

A condition that must be met for a sale to proceed.

🔨Contractor

A person or firm hired to manage construction work.

🤝Cooperative

A housing arrangement where residents own shares in a corporation.

📄Deed

A legal document transferring ownership of property.

📉Depreciation

A decrease in the value of a property over time.

👷Developer

A person or company that builds on land.

🏗️Development

The process of improving or building on land.

🧺Diversification

Spreading investments across different property types.

💵Down Payment

The initial payment made when buying a property.