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The Danger of Buying in a Buyer’s Market

The Danger of Buying in a Buyer’s Market

Terms like "buyer's market" and "seller's market" are frustrating to me because they're often used thoughtlessly. These terms are useful to describe large-scale trends, but they lead people to make faulty assumptions about individual transactions. For example, when...

Mortgagor

In real estate finance, a mortgagor is the party that borrows money and grants a mortgage on real...

Mortgagee

In real estate finance, a mortgagee is the party that lends money to a borrower and receives the...

Through Lot

A through lot is a parcel of land that extends between two parallel or approximately parallel streets, providing frontage and access on both sides of the property. Unlike a standard interior lot, which fronts only one public street, a through lot functions as a...

Key Lot

A key lot is a parcel of land situated behind or adjacent to another lot in a manner that creates an irregular relationship between frontage, access, and orientation within a subdivision or urban block. The term is most commonly used in land planning and subdivision...

Cadastral

A cadastral system relates to the official recording, surveying, mapping, and legal definition of land ownership and property boundaries. The term originates from the concept of a cadastre, which is a comprehensive public register documenting parcels of land,...

Azimuth

An azimuth is a directional measurement used in surveying, navigation, and geospatial mapping to describe the angular relationship between a fixed reference point and a line of travel or boundary. Measured in degrees clockwise from true north, azimuths range from 0°...

Right-of-Way Property

A right-of-way property is a parcel of land, corridor, or legally designated access route that grants one party the right to travel across or utilize land owned by another for transportation, utility, or access purposes. Commonly associated with highways, railroads,...

Equitable Conversion

Equitable conversion is a legal doctrine in real estate law stating that once a valid and enforceable purchase contract is executed, the buyer is regarded as the equitable owner of the property, while the seller retains legal title primarily as security for payment of...

Express Authority

Express authority is the specific authority that a principal intentionally grants to an agent, either orally or in writing, allowing the agent to act on the principal’s behalf in designated matters. In real estate, express authority is most commonly created through...

Easement in Gross

An easement in gross is a type of easement that grants a person or entity the legal right to use another person’s land for a specific purpose, but does not benefit any adjoining parcel of property. Unlike an appurtenant easement, which is tied to neighboring land and...

Encumbrance

An encumbrance is any claim, restriction, lien, or legal interest held by someone other than the property owner that affects the title to real property or limits the owner’s use of the property. Encumbrances may reduce the property’s value, restrict transferability,...

Conformity

Conformity is a principle of real estate appraisal which holds that property values are generally maximized when properties within a neighborhood or market area are similar in style, size, age, quality, and use. The principle is based on the idea that consistency...

HUD

HOUSING & URBAN DEVELOPMENT

HUD

(Department of Housing and Urban Development)

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