4-GLOSSARY OF GENERAL REAL ESTATE TERMS- O Thru. R-Broker Licensing

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Obsolescence- A loss of property value because of functional or economic (external) factors. See functional obsolescence and economic obsolescence. Offer- A proposal to enter into a binding contract under certain terms, submitted by an offeror to an offeree. If accepted without amendment, an offer becomes a contract. Offer and acceptance- A process that creates a […]

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