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Real Estate Course

Chapter 10 - Real Estate Mathematics

TermDefinition
Commission A sum due a real estate broker for services in that capacity.
Point Equal to one percent of a loan amount. For example, 1 point on a $100,000 is equal to $1,000.
Acre A measure of land equaling 43,560 square feet.
Front Foot Refers to the length of a parcel facing a street.
Hectare Equal to 10,000 square meters.
Gross Income Total income from property before any expenses are deducted.
Net Income The result of subtracting expenses from income.
Principal A sum of money lent or invested on which interest is paid.
Interest A fee paid by the borrower of a loan as a form of compensation for the use of money.
Real Property Tax Rate The tax levy divided by the total taxable assessed value of a taxing jurisdiction, usually expressed in dollars per thousand, dollars per hundred, or mills.
Created by: drister05
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