What word describes the property owner’s right to sell or transfer their property to someone else?
ASSIGNMENT – The transfer of the right, title and interest in the property of one person, the assignor, to another, the assignee.
What is it called when you sell your house and buy it up?
Flipping (also called wholesale real estate investing) is a type of real estate investment strategy in which an investor purchases a property not to use, but with the intention of selling it for a profit. … In simple terms, you want to buy low and sell high (like most other investments).
What is a real estate facilitator?
A Facilitator is simply the role of an Agent before the client elects the Agent as a buyer or seller’s representative. … “When a real estate licensee works as a facilitator that licensee assists the seller and/or buyer in reaching an agreement but does not represent either the seller or buyer in the transaction.
What is a real estate offer called?
A purchase and sale agreement is a real estate contract. It’s a written agreement between buyer and seller to transact real estate. The buyer agrees to pay an agreed-upon amount for the property. The seller agrees to convey the deed to the property. “The deed is a legal instrument.
What is the term that describes an increase in property owners rights because the land is gradually worn away by natural forces?
“Accretion” is the term which applies to the gradual increase or acquisition of land by the action of natural forces washing up sand, soil or silt from the water course or seashore. … However, when land is created by avulsion, the landowner does not obtain any rights to the newly created land.
What does convey property mean?
Conveyance is the act of transferring property from one party to another. The term is commonly used in real estate transactions when buyers and sellers transfer ownership of land, building, or home. A conveyance is done using an instrument of conveyance—a legal document such as a contract, lease, title, or a deed.
What are house flippers called?
Flipping houses or house flippers is more of a slang term for real estate investing or real estate investors. A few other terms used to describe flipping houses or house flippers include real estate development or real estate developer, fix and flipper, and real estate wholesaler.
What does contingent mean?
“Contingent” in any sense means “depending on certain circumstances.” In real estate, when a house is listed as contingent, it means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met.
What is it called when you own a house?
homeowner. noun. someone who owns their house or flat.
What is a transaction facilitator?
Transaction facilitator means an industry member who has been engaged under a Transaction Brokerage Agreement to provide facilitation services to the buyer and the seller in the same trade.
What is a transactional real estate agent?
A transaction licensee is a broker or salesperson who provides communication or document preparation services or performs other acts for which a license is required WITHOUT being the agent or advocate for either the seller/landlord or the buyer/tenant.