The Real Estate
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Net Income
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...
Net Acre
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,...
Negotiable
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...
Negative Cash Flow
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...
Narrative Appraisal
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,...
N.A.R. (National Association of REALTORS®)
In real estate, N.A.R. refers to the National Association of REALTORS®, a professional trade organization representing real estate practitioners in the United States. The association is composed of members who use the title REALTOR®, which denotes adherence to...
Multiple Listing
In real estate brokerage, a multiple listing is a property listing, typically an exclusive right to sell agreement, that is submitted to all members of a real estate association or multiple listing service. This arrangement allows each participating broker or...
Multifamily
In real estate, a multifamily dwelling is a residential building designed to house more than one family or household. Each unit within the building typically provides separate living facilities, including sleeping, cooking, and bathroom areas. Multifamily dwellings...
Mortgagor
In real estate finance, a mortgagor is the party that borrows money and grants a mortgage on real property as security for the loan. The mortgagor pledges the property to the lender while retaining possession and use of it. The mortgagor is obligated to repay the loan...
Mortgagee
In real estate finance, a mortgagee is the party that lends money to a borrower and receives the mortgage as security for the loan. The mortgagee holds a lien against the real property to secure repayment of the debt. The mortgagee is typically a bank, financial...