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Safety clause
Safety clause It provides that a broker is still entitled to a commission for a set period of time after the listing has expired if the property is sold to a prospect, who was introduced to the property by the broker, during the period of the listing.
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Broker
A person who acts as an intermediary between two or more parties in connection with a transaction for a fee or commission.
Commission
Money paid to a real estate agent or broker by the seller as compensation for finding a buyer and completing the sale, usually a percentage of the sale price (6 to 7 percent on houses, 10 percent on land).
Listing
An employment contract between principal and agent that authorizes the agent (such as a broker) to perform services for the principal and his property.
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.
SIMILAR TERMS--------------------------------------
Safe Drinking Water Act
Enacted by Congress in 1974, this federal law administered by the EPA and equivalent state regulators to establish and enforce drinking water standards.
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Szekesfehervar property
Property in Szekesfehervar, Hungary. Apartments, flats, houses, offices and other property in Szekesfehervar.
Six month LIBOR rate
LIBOR stands for London Interbank Offered Rate. It's the rate of interest at which banks offer to lend money to one another in the wholesale money markets in London.
Seventy-two hour clause
Wording that is inserted in a purchase contract when the purchase of a home is contingent on the sale of the buyer's current home. The seller accepts the offer but reserves the right to accept a better offer if one comes along.
S and L
Savings and Loan Association, a state or federally-chartered depository financial institution that was primarily a provider of home mortgages but since deregulation in the 1980’s to offer services similar to a commercial bank.
Safe Drinking Water Act
Enacted by Congress in 1974, this federal law administered by the EPA and equivalent state regulators to establish and enforce drinking water standards.
Safety clause
Sale contract
A written agreement between buyer and seller that details price and other terms and conditions of sale.
Sale-leaseback
A technique in which a seller deeds property to a buyer for a consideration, and the buyer simultaneously leases the property back to the seller.
Sales comparison approach
The process of estimating the value of a property by examining and comparing actual sales of comparable properties.
Sales comparison value
A value indication derived by comparing the property being appraised to similar properties that have been sold recently.
Sales contract
A real estate sales contract contains the complete agreement between a buyer of a parcel of real estate and the seller.
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