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Real Estate Terms
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Off plan property is a term used to describe pre-construction property (British English) or pre-construction real estate (American English).
Real estate developers usually market pre-construction developments to early adopters who are usually property investors, so as to secure better finance terms from their lender.
Property investors or property speculators like to purchase property in this way in the hope of making substantial capital gains. This can and does occur because developers who offer property for sale off plan, often offer financial incentives to early adopters, usually in the form of a discount. Also in a rising market and with a development cycle of typically 12-24 months there maybe ample opportunity for capital growth. |
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Real Estate Terms
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Frontage is the full length of a plot of land or a building measured alongside the road on to which the plot or building fronts. This is considered especially important for certain types of commercial and retail real estate, in applying zoning bylaws and property tax. In the case of contiguous buildings individual frontages are usually measured to the middle of any party wall.
In the United States, a frontage road is one which runs parallel to a major road or highway, and is intended primarily for local access to and egress from those properties which line it.
In military parlance, a unit's frontage is the width of land which it is responsible for attacking across or defending.
River frontage and ocean frontage is the length of a plot of land that faces directly onto a river or ocean respectively. The amount of such frontage may affect the value of the plot. |
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Real Estate Terms
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For Sale By Owner (abbreviated as FSBO and pronounced /ˈfɪzboʊ/) is a real estate term which describes the situation in which a property is offered for sale directly by its owner and without that owner having solicited the help of a real estate broker, implying that no real estate commission is associated with the sale. In recent years, the term has been used more broadly to describe the process of marketing, buying, and selling of real property without the representation of a real estate broker.
Some real estate professionals in the United States use short word fizber (noun) to describe home owners who sell their homes and land by themselves and don't use a realtor. The word fizber was formed by means of agglutination from the word fizbo (pronunciation of FSBO) by adding affix -er to it.
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