The acronym STUD is used as a memory aid to keep the 4 elements of value in mind. They are scarcity, transferability, utility and demand. Scarcity has to do with the supply of real estate available. The scarcer the supply of real estate available, the more valuable the property.
What is Pitt in real estate?
PITT. Four unities necessary to create joint tenancy – Possession, Interest, Time, Title.
What does Maria mean real estate?
One acronym you’ll definitely encounter is “M.A.R.I.A.” This stands for method, adaptability, relationship, intention, and agreement. It is an acronym that helps determine real or personal property.
What does tip stand for in real estate?
The Total Interest Percentage (TIP) is a disclosure that tells you how much interest you will pay over the life of your mortgage loan. You can find the TIP for your loan on page 3 of your Loan Estimate or page 5 of your Closing Disclosure. The TIP is most useful as a comparison point between different Loan Estimates.
What does CA stand for real estate?
CA Property means any and all property, whether real, personal, tangible, intangible or mixed, both owned and leased pursuant to Capitalized Leases, of any Person. Sample 1.
What is Br and Ba in real estate?
Ba – bathroom. Br – bedroom. CAC – central air conditioning. Ch – central heat.
What does MD stand for in real estate?
It could mean “Mother-Daughter”….
What does Dell stand for in real estate?
I Interest or estate being conveyed (habendum clause) N Names of a grantee & a grantor. G Granting & other appropriate clause. DELL. To remember Private Restrictions.
What does colic stand for in real estate?
Contractual capacity, Offer and acceptance, Legality of object, In writing and signed, and Consideration (mnemonic for elements of a valid contract)
What is diligence period?
Due diligence period usually refers to the time after signing a contract that the buyer has to inspect the property and make a decision whether they want to buy the property or lease the property or otherwise go forward with the transaction. … Before due diligence expires, you can still walk away.
What is the best term to describe the placement of a house on its lot?
Orientation is the positioning of a home on a lot. In other words, the term is used to describe the direction a home faces. Orientation can affect the market value of a home, so before buying a home, you should make sure that its orientation meets your personal preferences.
How do you retain real estate information?
The 5 Top Tricks to Retain Important Information
- Vary Your Learning. No matter how you learn best, trying different methods of learning will help you see the information at hand from a new perspective. …
- Test Yourself. …
- Make It Fun. …
- Find Your Focus. …
- Take a Break.