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20 Μαρ 2023 · When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. Keep this guide handy — you'll be fluent in the language of home buying before you know it.
15 Ιουν 2021 · The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
OSP in Real Estate commonly refers to Off-Street Parking, which is a designated area for parking vehicles that is not located on public streets, enhancing convenience and safety for residents. This term is often used in discussions about property amenities and urban planning.
Agreement of Sale - A written agreement between seller and purchaser in which the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms and conditions set forth therein. Air Rights - Rights in real property to use the space above the surface of the land.
3 Ιαν 2023 · To distinguish between real estate (realty), a physical entity, and its ownership, a legal concept, ownership of land is known as real property. Physical items other than real estate are legally termed ‘personalty’ and their ownership is known as ‘personal property’.
OSPin in Property commonly refers to Off-street parking, which denotes parking spaces that are located away from the street and typically provide increased safety and convenience for vehicles. This term is often utilized in real estate and urban planning contexts to discuss parking availability and regulations.
We’ve compiled an ever-growing list of 52 real estate terms you should know to help you better understand the process and plan your move. The following are the real estate terms we’ll explain (in the table of contents, we’ve grouped the terms by category, and we’ll explain them in alphabetical order below):
