Types of Commercial Real Estate
Large flat buildings used for distribution centers or factories.
Warehouses
What is a person who represents the buyer or seller of a property called?
Agent or Broker
The interest or value which the owner has in real estate over and above the liens against it.
Equity
What is it called when a deal is complete?
Closing/closed
The one by whom a broker is employed.
Client
These properties have many individual units. House lots of people in a close proximity.
What is the person called that lends money as a part of a real estate purchase?
Loan officer
What is a property used to generate income?
"Rental Property"
What is it called when someone buys a house to renovate and then sell it?
"Flipping"
When people do not pay their loan what can the bank do?
Foreclose
These properties are often located along busy roads. Typically have tenants that sell goods.
Retail properties
What are people called that help with the everyday tasks of a property. They help screen and acquire new tenants.
Property manager
Total income from property before any expenses are deducted.
Gross Income
A sum due a real estate broker for services in that capacity
Commission
Who is someone that owns the property/ collects rents
Landlord
This type of real estate attracts tenants that have many employees and require certain amenities.
Office
These people review contracts when a real estate transaction is about to go through. They also handle evictions of tenants.
Real Estate Lawyers
The percentage of a sum of money charged for its use.
Interest Rate
What is the money that the buyer has to put down on a deal called?
Equity
What is it called when the government decides they are going to use property in a certain area, so they fore people to sell?
Eminent Domain
This type of development has many different tenants ranging from businesses to families. Often creates a high density area.
Mixed Use
An individual or company that builds or renovates properties for profit in a large scale.
Developer
Option for high net worth individuals to invest in RE. Not a public option.
Private Equity
What is the decline in value of a real estate property called?
Depreciation
The process of verifying data and approving a loan.
Underwriting