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Apr 17, 2024 · A director of real estate is a senior-level executive who oversees the acquisition, development, leasing, and management of a portfolio of properties.
Nov 13, 2023 · Whether you're a veteran agent or total rookie, you need to be able to explain these real estate terms and definitions to clients.
What does a Director of Real Estate do? Real estate managers oversee commercial and residential property operations and are responsible for maintaining the premises while increasing its curb appeal and value.
What Does a Real Estate Director Do? A real estate director oversees the acquisition of new real estate for a large company or corporate organization. Your duties are to manage the organization’s real estate development portfolio, find new potential buildings or properties to develop, and engage in contract negotiation to acquire the property.
- The career path of a real estate director depends on the type of work you are interested in. For corporate work, you should have several years exec...
- A real estate director oversees the acquisition of new real estate for a large company or corporate organization. Your duties are to manage the org...
- To become a real estate director, you need significant professional experience in real estate development and sales, as well as advanced education....
- Acceleration Clause
- Active Contingent
- Addendum
- Adjustable-Rate Mortgage
- Adjustment Date
- Amortization
- Appraisal
- Appreciation
- Assessed Value
- Assignment
Also known as an acceleration covenant, this is a contract provision requiring the borrower to repay all of their outstanding loan to a lender if certain requirements -- outlined by the lender -- aren’t met.
When a seller accepts an offer from a buyer, that offer is contingentupon the buyer’s ability to meet certain conditions before finalization of the sale. Contingencies might include the buyer selling their home, receiving mortgage approval, or reaching an agreement with the seller on the home inspection.
If a buyer or seller want to change an existing contract, they might add an addendum outlining the specific part of the contract they’d like to adjust and the parameters of that change. The rest of the contract stays the same, regardless of the addendum.
The interest rate for an adjustable-rate mortgagechanges periodically. You might start with lower monthly payments than you would with a fixed-rate mortgage, but fluctuating interest rates will likely make those monthly payments rise in the future.
This is the date your mortgage begins to accrue interest (though you might not have made a mortgage payment yet). The adjustment dateusually falls on the first day of the month after mortgage funds are advanced or dispersed to the borrower.
Amortizationis the schedule of your mortgage payments spread out over time. In real estate, a buyer's amortization schedule is usually one monthly payment scheduled over a 15- or 30-year period of time.
An appraisal on your home is an unbiased estimate of how much a home is worth. When buying a home, the lender requires an appraisal by a third party (the appraiser) to make sure the loan amount requested is accurate. If the home’s appraised value is below what the buyer has offered, the lender may request the buyer pay the difference in cost.
Appreciation is the amount a home increases in value over time. To calculatea home’s likely appreciation rate, add one to the annual appreciation rate, raise this to a power equal to the number of years you’d like to estimate, then multiply that by the current value of the property.
An assessmentis used to determine how much in taxes the owner of a property will pay. An assessor calculates the assessment of a home’s value by looking at comparable homes in your area and reviewing an inspection of the home in question.
An assignment is when the seller of a property signs over rights and obligations to that property to the buyer before the official closing.
Members of the NAR Board of Directors have duties and responsibilities for governing the association, and the association counts on directors to participate as we deliberate issues that impact our members’ daily business lives.
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To write an effective director, real estate job description, begin by listing detailed duties, responsibilities and expectations. We have included director, real estate job description templates that you can modify and use.
