B – Compendium of Real EState Terms & Concepts

This is the condition that exists when under competitive conditions, the schedules of supply and demand are such that market prices are at relatively low level, giving the buyers an advantage; an oversupply causing prices to decline. Other definitions of ‘Buyers’ Market’ on the web are:

‘Goal’, or the lack of it, can be life-changing for individuals and businesses. For a business, failing to accomplish set goals can be a doors-closing event.

A business case captures the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also sometimes come in the form of a short verbal argument or presentation. The logic of the business case is that, whenever resources such as money or…

A business is a self-sustaining integrated set of activities and assets conducted and managed for the purpose of providing a return to investors. [EITF 98-3]. The elements necessary to conduct normal operations will vary by industry and by the operating strategies of the unit. In general, a business consists of…

Building performance evaluation (BPE) is the inspection of a building after occupancy to assess the building's performance in terms of design goals. This includes not only occupant satisfaction, but also resource consumption including water and energy usage. The BPE process is continuous and systematic, analysing a building's performance, including accessibility,…

A building line is a line set by law beyond which the owner of the land cannot build or is not permitted to build. This building line is established by ordinance or statute between which line and the street line structures are not erected. It is a boundary fixed at…

Gross Area Definition: The sum of all areas on all floors of a building included within the outside faces of its exterior walls, including floor penetration areas, however insignificant, for circulation and shaft areas that connect one floor to another.

This is a locally or state adopted ordinance or regulation that can be enforceable by police powers under the concept of health, safety and welfare, which controls the design, construction alteration, repair, quality of materials used and occupancy and related factors of any building or structure within the state’s jurisdiction.

This is the infringing or violation of a right, duty or law. It can also be said to be action that breaks a law, rule or agreement between people, groups or countries. It can also be said to be violation of an obligation. Breach can take place in various forms.…

This is the infringing or violation of a right, duty or law. It can also be said to be action that breaks a law, rule or agreement between people, groups or countries. It can also be said to be violation of an obligation. Breach can take place in various forms.…