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A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. [ 7] General Contractors are mainly responsible for the overall coordination of a project and may also act as building designer and construction foreman (a tradesman in charge of a crew).
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601 – 2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating ...
Real estate agent. Lawn signs advertising houses for sale. Real estate agents and real estate brokers are people who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. [1] Brokers and agents are licensed by the state to ...
A certificate of occupancy is evidence that the building complies substantially with the plans and specifications that have been submitted to, and approved by, the local authority. It complements a building permit —a document that must be filed by the applicant with the local authority before construction to indicate that the proposed ...
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities ...
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.
Assuming a 5 percent total commission under the current model, here’s roughly what you could expect to pay based on the price your home sells for: Home’s sale price. Seller’s agent ...
Lease administration is a department that usually falls under an organization's real estate department. [ 1] Lease administration involves receiving rents from facilities they own and paying rent for the facilities they lease, and other activities. It has become an integral part of the accounting, administrative, and legal requirements normally ...
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