New York Real Estate Glossary M
(Main Vent - Market Research)
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Ventilation system primary vent line.
Periodic expenditure needed to preserve a property's original status
rather than to improve that property. Activity required to compensate
for wear and tear.
Monthly assessment by homeowner's association on owners and used for
maintenance and repair of common areas.
The cost of professional property management, with a fee typically set
at a fixed percentage of total rental income generated by the managed
A large, imposing, stately home.
Gas, which has been created from coal.
Partially factory-assembled units designed to be transported in parts
and then assembled on the site. Prefabricated homes.
Irregularities, which are happened while the item was being made.
A constant amount added to the value of the index for the purpose of
adjusting the interest rate on an adjustable rate mortgage.
Margin of Security
Buffer amount between the value of the collateral and the principal
balance of the obligation.
Research of the supply and demand condition of the real estate market
and specific properties in a specific area to discover future trends.
Factors that, at a particular point in time, affect the sale or purchase
of a home.
The actual open market price paid in a transaction where real estate
Rent that a comparable unit would command if offered in a competitive
real estate rental market.
Surveys, of the area in which a product or service is to be offered,
which are done to determine the cost of doing business, any competition,
potential sales, etc.