American Land Development Association
Trade group of predominately land developers.
Popular Real Estate Terms
Let’s explore the definition of attribution in practice! Attribution is when you give an individual credit and the right to perform a specific action or the quality of one particular ...
Creates a lien against the mortgagor's property, but does not permit a lien against his or her personal assets. See also non recourse. ...
A listing of all assets a person or business owns, their cost, and appraised value. A complete inventory record should be maintained including real estate. Documentation is needed in the ...
The reason a property appraisal is being made. The purpose of the appraisal is the first step in the appraisal process. The purpose of the appraisal should answer several questions: ...
Legal action of a landlord to remove a tenant.The tenant may have violated the lease agreement such as for the tenant's failure to pay the rent. ...
Descriptive of a property boundary that follows the course of a river or estuary. For example, a land description may say its boundary follows "the meander of the river" meaning the ...
Rental based on a percent of sales or profit that in addition to the constant rental amount. ...
Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. These expenditures include ...
Another residence in addition to the main residence where a person or family resides. An example is a second home out of the city used on weekends and during vacations. Interest and real ...
Comments for American Land Development Association
I Have property on a well-known resort island. I want to make sure I am not taken advantage of by selling the land for less than its worth to a developer. I want someone with expertise in Land Development to help me with coming up with a realistic price for the property.
Feb 20, 2020 12:49:12Hello, Dannie! Thank you for reaching out to us! I can’t find a reason why you shouldn’t go with a professional real estate appraiser? A qualified appraiser needs to be licensed or certified, needs to be familiar with the area and this is required in all 50 states. He is obligated to be impartial and to have no interest in the transaction. Think about the fact that lenders use qualified appraisers to lend huge sums of money. They won’t put their money on the line if they can’t trust the appraiser’s expertise in providing a correct appraisal for a property. Because in case of foreclosure they would have to sell the property to recoup the money. So we highly suggest you go with a professional real estate appraiser. Also, we do have an article talking about when to dispute a home appraisal and how? You could check it out if you’re interested.
Apr 09, 2020 12:07:56Have a question or comment?
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