Dictionary

Mediation

Definition:   intervention between conflicting parties to promote reconciliation, settlement or compromise Pronunciation:  \ˌmē-dē-ˈā-shən\ Used in a Sentence:   When the buyer and seller made conflicting demands regarding the escrowed property the broker...

Material Fact

Definition:  any fact that affects the value of real property and is relevant to a person making a decision about that property Pronunciation:   \mə-ˈtir-ē-əl\ \ˈfakt\ Used in a Sentence:   Real estate...

Masonry

Definition:    the stone, brick or concrete used to build things Pronunciation:   \ˈmā-sən-rē\ Used in a Sentence:    The house had a masonry foundation for added stability.

Market Value

Definition:   the most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale Pronunciation:   \ˈmär-kət\\ˈval-(ˌ)yü\ Used in a Sentence:   The...

Market Allocation

Definition:   an agreement between brokers to divide up competitive market areas among themselves and not complete in each other’s areas Pronunciation:   \ˈmär-kət\\ˌa-lə-ˈkā-shən\ Used in a Sentence:   The various brokers decided...

Marketable Title

Definition:   good or clear title that is reasonably free from risk of litigation over possible defects; also referred to as merchantable title Pronunciation:   \ˈmär-kə-tə-bəl\ \ˈtī-təl\ Used in a Sentence:    A...