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The Illinois Department of Financial and Professional Regulation (IDFPR) is the Illinois state government code department that through its operational components, the Division of Banking, Division of Financial Institutions, Division of Professional Regulation, and Division of Real Estate, oversees the regulation and licensure of banks and financial institutions, real estate businesses and ...
Real estate agent. 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 negotiate sales agreements and manage the ...
A purchase and sale agreement ( PSA) or alternatively a sales and purchase agreement ( SPA) [1] is an agreement between a buyer and a seller of real estate property, company stock, or other assets. The person, company, or other legal entity acquiring, receiving, and purchasing the property, stock, or other assets is referred to as the buyer and ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
Bill of sale. Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer ...
www .irem .org. Institute of Real Estate Management (officially, Institute of Real Estate Management of the National Association of Realtors [1]) is an international trade organization of real estate managers.. An affiliate of the National Association of Realtors, the IREM is made up of real estate management professionals, and is the only ...
A Commercial Information Exchange ( CIE) is an Internet-based commercial property listing service in the United States that is operated by a local association to serve the local market. [1] A CIE is the commercial real estate equivalent of the residential Multiple Listing Service. [2] [3] CIEs help commercial real estate professionals ( brokers ...
Investment rating for real estate. An investment rating of a real estate property measures the property’s risk-adjusted returns, relative to a completely risk-free asset. Mathematically, a property’s investment rating is the return a risk-free asset would have to yield to be termed as good an investment as the property whose rating is being ...
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