Business / Real Estate Glossary

Blended Rate: An interest rate for a newly financed loan that is higher than the existing rate but lower than the current market rate.

Blind Ad: An advertisement that does not include the name and address of the person placing the ad, only a phone number or post office box address. Licensed brokers are generally prohibited by state l . . . View Full Definition

Blockbusting: An illegal and discriminatory practice whereby one person induces another to enter into a real estate transaction from which the first person may benefit financially by representing that a c . . . View Full Definition

Blue-Sky Provision: Requiring full disclosure of all risks in a limited partnership solicitation under the Uniform Partnership Act.

Bona Fide: In good faith, honestly, openly, and sincerely and without deceit or fraud. In an attitude of trust and confidence, without notice of fraud.

Bond: 1. A debt instrument, an obligation to pay, a security issued by a corporation. 2. A written promise that accopmpanies a mortgage and is evidence of the debt secured by the mortgage. 3. An i . . . View Full Definition

Boot: Money or other property that is not like-kind, which is given to make up any difference in value or equity between exchanged properties. Boot may be in the form of cash, notes, gems, the mar . . . View Full Definition

Branch Office: A secondary place of business apart from the principal or main office from which real estate business is conducted. A branch office usually must be run by a licensed real estate broker worki . . . View Full Definition

Breach Of Contract: Violation of any of the terms or conditions of a contract without legal excuse, default, nonperformance. The nonbreaching party can usually seek one of three alternative remedies upon a mate . . . View Full Definition

Break-Even Point: In income property, the figure at which rental income is equal to expenses and debt service.

Breaker: A switch-like device in electrical panel boxes used to keep the electrical current from exceeding the recommended load for the wire size connected to the breaker.

Breaker Panel: A large rectangular shaped electrical box used to distribute electricity throughout a house after passing through protective breakers located within the box.

Bridge Loan: A short-term loan made to cover the period between the termination of one loan, such as an interim construction loan, and the beginning of another loan, such as a perminent takeout loan.

Broad-Form Homeowners Policy: Covers falling objects, damage due to the weight of ice, snow or sleet, collapse of all or part of the building, bursting, cracking, burning or bulging of a steam or hot water heating system . . . View Full Definition

Broker: One who acts as an intermediary on behalf of others for a fee or commission.

Broker Cooperation: Working with outside licensed real estate brokers who have prospective tenants in exchange for a finders fee or commission split.

Brokerage: The bringing together of parties interested in making a real estate transaction. The business of a broker in acting as a third party agent to a transaction.

Brownfields: Economically depressed urban areas suffering from real or perceived hazardous material contamination.

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