Real estate salespeople, and other licensees who are required to work for and under the umbrella of a designated broker, are often referred to as real estate agents. In legal language, the term "agent" refers to the strictly defined relationship between a real estate salesperson and the buyers and sellers with whom he or she conducts business. An agent is an individual who is authorized and consents to...
A real estate property that has been purchased with the intention of earning a return on the investment (purchase), either through rent (income), the future resale of the property, or both. An investment property can be a long-term endeavor, such as an apartment building, or an intended short-term investment in the case of flipping (where a property is bought, remodeled or renovated, and sold at a...
A property survey shows the boundaries of the property indicating the lot size, and includes a written description of the property. Property surveys, which resemble a map, are carried out during the original construction of a house and are provided to the buyer at that time. However, if the house you are buying is older you may find that the original survey has long been lost. Sometimes a copy has been...