Category: Real Estate

A Development Application (DA) in real estate is an official request submitted to local authorities for permission to change land use or undertake development projects. This application is essential for ensuring compliance with zoning laws and planning regulations. It typically includes site plans, architectural designs, and environmental assessments. A well-prepared DA can improve property value…

A probate sale in real estate involves selling a deceased person's property under court supervision. This process is necessary to settle debts and distribute assets among heirs. Mainly, it occurs when the deceased left no will or when liquidation is required. Unlike traditional sales, probate sales require court approval and involve a more complex legal…

Starting a real estate fund involves several key steps. First, understand the types of real estate funds available and define your investment strategy based on target properties, risk tolerance, and financial goals. Next, choose a suitable fund structure, such as a Limited Partnership or LLC, to guarantee proper management and liability protection. Developing a detailed…

A single agent in real estate is a licensed professional who represents only one party—either the buyer or the seller—in a transaction. This exclusivity guarantees focused advocacy and loyalty, tailored to meet the unique needs of their client. The single agent serves as an intermediary, managing communication and negotiations while providing essential market observations and…

Air rights in real estate refer to the legal ability to use, develop, or control the space above a property. This concept is particularly essential in urban environments where land is limited. Air rights enable property owners to maximize their assets by allowing for vertical construction or the transfer of these rights to other developers.…

Conformity in real estate refers to the alignment of property features with the prevailing standards in a neighborhood. This alignment improves property value and general appeal by maintaining aesthetic and functional consistency. Properties that share similar attributes, such as size and architectural style, are typically more desirable and attract greater buyer interest. Compliance with local…

Self-dealing in real estate refers to the unethical practices where professionals, such as agents or brokers, prioritize their personal financial gains over their clients' best interests. This behavior undermines their fiduciary duty and can manifest in various ways, including undisclosed commissions, dual agency situations, or manipulating property valuations. Self-dealing creates conflicts of interest and damages…

A net lease is a real estate agreement where the tenant pays base rent plus additional expenses, including property taxes, insurance, and maintenance costs. This arrangement shifts financial responsibilities from the landlord to the tenant, enabling a clearer understanding of total occupancy expenses. Commonly used in commercial real estate, particularly in retail and office sectors,…

Gross Building Area (GBA) in real estate represents the total area defined by a building's outer walls, including both usable and non-usable spaces. This measurement is essential for property valuation, leasing agreements, and development planning. GBA includes areas like mezzanines and staircases, but excludes external features such as balconies. Accurate GBA measurement can greatly affect…

A buffer zone in real estate is an area specifically designated to separate differing land uses, acting as a protective barrier. Its primary purpose is to improve compatibility between adjacent properties and mitigate adverse impacts such as noise, pollution, and visual disturbances. Buffer zones can include parks, green spaces, or gardened areas, improving aesthetics and…