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Community benefits agreement. A community benefits agreement ( CBA) in the United States is a contract signed by community groups and a real estate developer that requires the developer to provide specific amenities and/or mitigations to the local community or neighborhood. In exchange, the community groups agree to publicly support the project ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Mechanic's lien. A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien.
The National Association of Realtors (NAR) is an American trade association [4] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [5] making it the largest trade association in the United States [6] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
Multiple listing service. A multiple listing service ( MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
Cost approach. Cost approach is a real estate appraisal valuation method used to price an individual property. [1] It is one of three methods, the others being market approach, or sales comparison approach, and income approach. The fundamental premise of the cost approach is that a potential user of real estate will not, or should not, pay more ...
Construction management ( CM) aims to control the quality of a project's scope, time, and cost (sometimes referred to as a project management triangle or "triple constraints") to maximize the project owner's satisfaction. [ 1][ 2] It uses project management techniques and software to oversee the planning, design, construction and closeout of a ...
Buying and/or moving into a home costs much more than most types of transactions. The costs include search costs, real estate fees, moving costs, legal fees, land transfer taxes, and deed registration fees. Transaction costs for the seller typically range between 1.5% and 6% of the purchase price.