Dictionary

Cancel

Definition: A license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action. Pronunciation: \ˈkan(t)-səl\ Used in a Sentence:    Because she was no...

Bylaws

Definition: The rules that govern the administration of a condominium. Pronunciation: \ˈbī-ˌlȯ\ Used in a Sentence:   The condos bylaws prohibit dogs over 50lbs.

Buyer’s Market

Definition: The inventory of available properties exceeds the demand. Pronunciation: Used in a Sentence:   We were able to get a better price on the house due to the buyer’s market.

Buyer Brokerage Agreement

Definition: An employment contract with a buyer. Pronunciation: \ˈbī(-ə)r\ \ˈbrō-k(ə-)rij\ \ə-ˈgrē-mənt\ Used in a Sentence:   The prospective buyer signed a buyer’s brokerage agreement with the agent.

Buydown

Definition: A financing method in which points are paid by the seller or developer that lowers (buys down) the effective interest rate paid by the buyer/borrower, therefore reducing the amount of...

Business Trust (syndicate)

Definition: A business entity formed by any number of persons who make an investment at a stipulated amount per unit.  The monies collected in this manner are then used to buy,...