One of three methods of the appraisal process applied to income producing property to develop the appraiser's opinion of value
A money deposit made by a buyer to evidence their good faith intent to buy when making an offer to acquire property. AKA earnest money
An appraisal method used by an appraiser to arrive at a property's value based on the present cost of constructing the present improvements and acquisition of the land.
Provisions entitling the seller to credit for the portion of prepaid sums which have not accrued on obligations a buyer assumes on the day escrow closes, or entitling the buyer to a credit for amounts assumed which accrued unpaid through the day prior to the close of escrow.
A method for comparing a given property with similar or comparable surrounding properties:also called market comparison
The price a reasonable, unpressured buyer would pay for property on the open market
Verticales
Directives an escrow officer undertakes, as given by buyer and seller, or lender and borrower to coordinate the closing on a purchase agreement or mortgage origination
An individual licensed and employed as an agent of an escrow company or other escrow service provider to perform escrow services
California state law requiring specific types of contracts to begin writing and signed by the person to be charged with performance before they will be enforceable by a court.
Documentation of an appraiser's findings, including the purpose and scope of the appraisal
An individuals opinion of a property's value on a specific date, documented in an appraisal report
The depository process employed to facilitate the gathering of instruments and funds for use to transfer real estate interests between two persons
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