Glossary - Words and Terminology used in Commercial Property

FAIR MARKET VALUE
The value of an item as established by a con ...see more

FAR
Definition: Floor area ratio ...see more

FIDUCIARY
A person charged by law and equity with a higher d ...see more

FINAL VALUE ESTIMATE
The product of a real estate appraiser's completed ...see more

FINANCIAL RISK
An assessment of the possibility that a given inve ...see more

FINANCIAL STATEMENT
A document which sets out the assets, income ...see more

FINDER'S FEE
Commission paid to a mortgage broker for placing a ...see more

FIRM OFFER
An offer to purchase delivered to the potential Ve ...see more

FIXED EXPENSES
As opposed to variable costs. Costs of owning and ...see more

FIXED TENANT IMPROVEMENT ALLOWANCE
An allowance made for refurbishing a space, usuall ...see more

FIXTURE
An item which is attached to and forms part of the ...see more

FLEX SPACE
A building providing its occupants the flexibility ...see more

FLOATING RATE
Rate of interest chargeable on a loan that i ...see more

FLOOR AREA
The total space covered by all floors in a buildin ...see more

FLOOR AREA RATIO (FAR)
A comparison of the total area of the floor of a b ...see more

FLOOR PLAN
A sketch of an existing or proposed building showi ...see more

FORCED SALE
The marketing of a property as a result of some ou ...see more

FORECLOSURE
An enforcement process in which the lender under a ...see more

FORWARD (INCOME) YIELD
It represents the expected net income for ye ...see more

FREEHOLD
As opposed to leasehold. A right to or interest in ...see more

FRONTAGE
The measurement of a property's boundary that runs ...see more

FULLY AMORTIZING PAYMENT
A periodic mortgage payment which, if paid consist ...see more

FUNCTIONAL OBSOLESCENCE
The loss of use or value of an asset due to a chan ...see more

FUNCTIONAL UTILITY
The ability of a property or building to be useful ...see more

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