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Cost basis
Cost basis Accounting figure that includes original cost of property plus certain expenses to purchase, money spent on permanent improvements and other costs, minus any depreciation claimed on tax returns over the years.
RELATED TERMS--------------------------------------
Accounting
The agent must be able to report the status of all funds received from or on behalf of the principal.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Depreciation
Decrease in value to real property improvements due to wear and tear, adverse changes in the neighborhood, or any other reason.
SIMILAR TERMS--------------------------------------
Cost approach
The process of estimating the value of a property by adding to the estimated land value.
Cost of deposit index (CODI)
The Cost of Deposit Index (CODI) is one of several indexes commonly used to set the adjustment amount of an adjustable rate mortgage (ARM).
Cost of funds index (COFI)
One of the indexes that is used to determine interest rate changes for certain adjustable-rate mortgages. It represents the weighted-average cost of savings, borrowings, and advances of the financial institutions such as banks and savings and loans, in the 11th District of the Federal Home Loan Bank.
Cost plus contract
A building contract setting the builder's profit at a set percentage of actual cost of labor and materials.
Cost recovery
An Internal Revenue Service term for depreciation.
Cost-approach improvement value
The current cost to construct a reproduction of, or replacement for, the existing structure less an estimate for accrued depreciation
Cost-approach land value
The estimated value of the fee simple interest in the land as if vacant and available for development to its highest and best use
Cost-of-sale percentage
An estimate of the costs to sell an investment representing brokerage commissions, closing costs, fees and other necessary disposition expenses
Cost-plus
A method of paying construction contractors when the contractor is paid the actual costs of the job plus a percentage for profit.
Cost-plus contract
An agreement in which a construction contractor receives a fee based on a percentage of all costs paid for labor and materials.
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Correspondent
A mortgage banker.
Corrosion
The dissolving and wearing away of metal caused by a chemical reaction such as between water and the lead pipes or solder in a home's plumbing.
Corrosive
A substance that eats or wears away materials gradually by chemical action.
Co-signers
Additional signers of a financial agreement that add their personal guarantees to that of the borrower.
Cost approach
The process of estimating the value of a property by adding to the estimated land value.
Cost basis
Cost of deposit index (CODI)
The Cost of Deposit Index (CODI) is one of several indexes commonly used to set the adjustment amount of an adjustable rate mortgage (ARM).
Cost of funds index (COFI)
One of the indexes that is used to determine interest rate changes for certain adjustable-rate mortgages. It represents the weighted-average cost of savings, borrowings, and advances of the financial institutions such as banks and savings and loans, in the 11th District of the Federal Home Loan Bank.
Cost plus contract
A building contract setting the builder's profit at a set percentage of actual cost of labor and materials.
Cost recovery
An Internal Revenue Service term for depreciation.
Cost-approach improvement value
The current cost to construct a reproduction of, or replacement for, the existing structure less an estimate for accrued depreciation
This dictionary contains 6433 terms. |
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