Secondary Location
Secondary is something that is less important than or compared to something else. Secondary can also be a result of something or someone that is primary by definition. A secondary location can refer to an alternative location. It can also be a place that is situated somewhere else in relation to the primary location.
For example, John Mulaney used a secondary location in his comedy show to describe a location from which you have no chance of returning back alive. Boats have hull identification numbers (HIN), and while the primary location for the HIN is on the rear of the transom, there should be a secondary HIN location in the interior of the vessel.
Secondary location in real estate
In terms of real estate, the term secondary location can refer to an area that is less advantageous. A primary area could be an area that is very desirable to live in and the reasons for that are numerous. Getaway cities in terms of traffic count, safety, accessibility, and many surrounding neighborhoods are some aspects that define a primary location in real estate.
A secondary location in real estate is the complete opposite or not as convenient as the primary one. We can define the area around the secondary location as lower-class, not so active commercially speaking. The term can be associated with a location that is nicer than average but not incredible.
Secondary locations can also be real properties located in unsafe areas or areas with high crime rates. Real estate that is hard to find or spot is also considered to be a secondary location. Properties that are surrounded by poor infrastructure or property with inadequate parking space. Secondary locations are also priced a lot lower because of this and that is another way to differentiate between primary and secondary locations.
Popular Real Estate Terms
When we talk about acceptance in the real estate world, we have to talk about an offer that is accepted. The definition of acceptance implies the existence of an offer that we can accept or ...
The term proxy comes from the power of attorney by which the holder of stockholders in a real estate company transfers voting rights to another stockholder. A proxy fight may arise in which ...
Document describing the benefits and provisions for people or businesses covered by group insurance. Document in life and health insurance issued to a member of a group insurance plan ...
The Multiple Listing Service (MLS) is an exclusive database of properties created by real estate agents and brokers. The idea behind the creation of the Multiple Listing Service (MLS) ...
member of the National Association of Real Estate Brokers, Inc. ...
Also called a will. Describes the disposition of property. ...
In the business world, the definition of override means a salesperson paying a commission to a supervisor or another agent. The meaning of override refers to an arrangement for acquitting ...
Examination of the financial records of a business to uncover errors and other irregularities. Involves looking at source documents to determine the legitimacy of transactions. An ...
One that is legally binding because it is in conformity with legal requirements and conditions. ...
Have a question or comment?
We're here to help.