American Land Development Association
Trade group of predominately land developers.
Popular Real Estate Terms
(1) Temporary and symbolic payment showing good faith and obligating two or more individuals until a final transaction takes place. The binder is typically returned if the final agreement ...
Insurance or maintenance policy taken out by a buyer of real or personal property. ...
Large heavy piece of wood or other material generally running horizontally through a building providing support for other parts of the structure. The stringer usually runs in the direction ...
Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...
Claim by a real estate broker that his or her actions were the principal cause of the completion of a property sale between two parties. A successful procuring cause claim would entitle a ...
provision in a written agreement allowing the prospective purchaser the right to cancel the contract if occupancy requirements are not satisfied as of a specific date. ...
Period of time interest rates are guaranteed by lock-in-clause. The guarantee period of time is longer during stable economic periods with low rates of inflation. ...
Amount paid back or credit given because of an overcollection or the return of property sold. Also called refund. Unearned interest refunded to a borrower if the loan is paid off before ...
Unimproved property. It has no utilities, sewers, streets, or structures and usually must be cleared. ...
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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