Quid Pro Quo
Definition of "Quid pro quo"
- Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of property.
- A business agreement whereby a real estate firm will provide business, typically referrals, to another company in exchange for receiving a service such as research of the real estate market.
Popular Real Estate Terms
Method of construction where part of the structure is supported by a cantilever beam or truss. ...
(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...
A certificate of ownership in a real estate company. Pledged assets for a borrowing. An example is an office building serving as collateral for the mortgage. Way of protecting property ...
Title deficiency that prevents a seller from successfully transferring property to a buyer. A title company may discover a title defect ( due to encumbrances against the property or failure ...
Part of something such as the units making up a heating or air conditioning system in a building. ...
How much water may be retained in a unit, such as an expansion tank in a home. ...
A clearly stated notice that an owner or operator will not assume responsibility for an inherent risk. For example, at a parking garage, a large notice of nonresponsability clearly states ...
series of rows. townships moving as a row from east to west. It covers a 6-miles area in width. The term is employed under the rectangular survey method. ...
individual who purchases property for another for the purpose of not identifying to the seller and other interested parties the real identity of the true acquirer. The individual who makes ...
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