M – Compendium of Real Estate Terms & Concepts

The European Group of Valuers’ Association (TEGoVA) and Association of German Mortgage Banks (2002) and IVSC (2006) citing Council of the European Union, Proposal for Directives of the European Parliament and of the Council, 12890/05 Add. 4, Annex VIII, Section 1.5, paragraph 65, define Mortgage Lending Value to mean the…

Douglas Greenwald & Associates (1983) defined money market as a term used in designating the financial institutions which handle the purchase, sale and transfer of short-term credit instruments. It includes the entire machinery for the channelling of short-term funds. It is concerned primarily with small business needs for working capital,…

In law, MERGER is the combination of two or more business organisations under one management with one firm surviving while the others lose their separate corporate identities. Only the remaining firm retains its original name and charter, acquiring the assets of the others. This technique of business fusion differs from…

Mens rea means a guilty mind. It is principle of the criminal law that a man can only be convicted for a crime if he commits a wrongful act with a guilty intention. Examples to illustrate mens rea are as follows:

In Barron's Real Estate Dictionary (2003), Master plan is defined as a document that describes, in narrative and with maps, an overall development concept. According to Glagola (2002), the master plan provides a framework for the physical environment that incorporates the buildings. Master planning develops...

This is the process of valuing a universe of properties as of a given date in a uniform order, utilisng standard methodology, employing a common reference for data and allowing for statistical testing (Boyce, 1984).

Market value - in place is a professional opinion of the estimated most probable price expressed in terms of currency to be realized for property in an exchange between a willing buyer and a willing seller, with equity to both, neither being...

Market Value is variously described as: • under conditions whereby (The Appraisal Institute, 2001): • The price which a property might be expected to realise if sold in the open market by a willing seller.

MR is the estimated amount for which a property, or space within a property, should lease (let) on the date of valuation between a willing lessor and a willing lessee on appropriate lease terms in an arm’s-length transaction after proper marketing wherein the parties had acted knowledgeably, prudently and without…

MARKET ANALYSIS focuses on both a regional and neighbourhood evaluation, which includes the demographic conditions, geographic features, governmental prospective, existing real estate supply, potential future developments, and tenant/ resident demand. It is important to focus on how each of these elements impacts the subject property.