Business / Real Estate Glossary

Buyers Agent: A residential real estate broker or salesperson who represents the prospective purchaser in a transaction. The buyers agent owes the buyer/principal the common-law or statutory agency duties.

Buyers Broker: A broker who represents the buyer in a fiduciary capacity. Some buyers brokers practice single agency, in which they represent either buyers or sellers, but never both in the same transactio . . . View Full Definition

Buyers Remorse: Buyers of expensive items, like a home or automobile, sometimes regret their decision. They wonder if they paid too much or made the wrong selection. This fear of having made a serious mista . . . View Full Definition

Buying Motives: Ownership of real estate satisfies certain basic human needs. These needs are what motivate a person to purchase real property. They include: comfort and convenience, desire for profit, prid . . . View Full Definition

Buying On Contract: A type of contract used in connection with the sale of real property where the seller retains legal title to the property until some future date, usually when the full purchase price has bee . . . View Full Definition

Buying Signals: Words, actions or facial expressions that signal a prospects readiness to buy.

Cal-Firpta: Californias version of the federal FIRPTA. It is a tax act which became effective in 1988 and was subsequently amended in September, 2002 to become a withholding tax for residents and non-re . . . View Full Definition

Cal-Vet: A program to help eligible California Veterans finance the purchase of farms and ranches within the state.

California Environmental Quality Act: The Act allows local governments to require environmental impact reports for private or government projects that may have a significant impact on the environment.

California Housing Financial Discrimination Act Of 1977: Also known as the Holden Act. A California act prohibiting discrimination by a lender for any reason unrelated to the creditworthiness of the loan applicant.

California Residential Mortgage Lending Act: An act administered by the Commissioner of Corporations which provides licensing authorizing mortgage lending and brokering.

Canceling Escrow: Providing written notification that an escrow is to be terminated, must be done by mutual consent of all parties to the escrow and in accordance with governing agreements.

Capacity Of Parties: The legal ability of people or organizations to enter into a valid contract. A person entering into a contract will have full, limited or no capacity to contract.

Capital Gain: Profit earned from the sale of an asset, where the sales price was greater than the adjusted basis.

Capital Loss: Loss sustained from the sale of an asset, where the sales price is less than the adjusted book basis.

Capitalization: A mathematical process for converting net income into an indication of value, commonly used in the income approach to value. The net income of the property is divided by an appropriate (capi . . . View Full Definition

Capitalization Rate: The rate of return a property will produce on the owners investment.

Capping: The process at of laying two to four feet of soil over the top of a landfill site and then planting vegetation to prevent erosion and enhance the landfills aesthetic value.

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