The Real Estate
Encyclopedia: K-O

In real estate finance, a non-recurring expense is a cost that is not expected to occur on a regular or ongoing basis. It arises from unusual or extraordinary events rather than normal property operations. Examples of non-recurring expenses include costs resulting...

In real estate finance, a non recourse loan is a loan in which the lender’s only security for repayment is the property pledged as collateral. If the borrower defaults, the lender may take possession of the property but cannot seek a deficiency judgment against the...

In real estate finance, the nominal interest rate is the rate of interest that is stated in a loan agreement or promissory note. It represents the contractual rate used to calculate interest on the loan balance. The nominal interest rate does not take into account...

In real estate brokerage, a net listing is a type of listing agreement in which the seller specifies a net amount to be received from the sale of the property. Any proceeds above that agreed upon net amount are retained by the real estate broker as compensation. Net...

In real estate, a net lease is a lease agreement in which the tenant is responsible for paying certain operating expenses of the property in addition to a fixed base rent. These expenses commonly include property taxes, insurance premiums, and maintenance or operating...

In real estate finance, net income refers to the amount of income remaining from a property after operating expenses are deducted from adjusted gross income. It represents the property’s earnings before accounting for debt service, income taxes, or capital...

In real estate and land development, a net acre refers to an acre of land that is available for the construction of buildings or other improvements. It excludes portions of a larger parcel that cannot be developed or that must be dedicated to uses such as streets,...

In real estate and finance, negotiable refers to an instrument or document that is capable of being transferred or assigned from one party to another in the ordinary course of business. A negotiable instrument allows the rights it represents to pass to a new holder...

In real estate investment, negative cash flow occurs when the income generated by a property is insufficient to cover its regular operating expenses. These expenses may include mortgage payments, property taxes, insurance, maintenance, and management costs. When a...

In real estate appraisal, a narrative appraisal is a comprehensive written report that explains in detail the factual data, analysis, and appraisal methods used to determine a property’s value. It presents the appraiser’s reasoning and conclusions in a descriptive,...