Money which is available to meet the requirements of operating a business.

A discount from a billed amount if paid within a certain period.

An appraisal technique by which the price of comparable properties selling at different financing terms are adjusted to find market value. The theory is that terms less advantageous to the seller will cause a higher sale price; cash being most advantageous to the seller.

In investment property, the actual cash the investor will receive after deduction of operation expenses and debt service (loan payment) from his gross income.

See: Cash-On-Cash.

A statement of cash on hand which the buyer intends to apply to closing costs, impounds, and down payment. Also shows the source of the money (savings, gift, etc.).

To take the entire amount of a seller’s equity in cash rather than to retain some interest in the property, such as a purchase money mortgage or deed of trust. Also loosely used when paying off anyone having an interest in property, thereby ending the interest.

A term used in farm rental to distinguish between money rent and rent paid by giving a portion of the crop to the owner (share crop).

An amount of money sometimes required by a lender to be held in reserve in addition to the down payment and closing costs.

A sale for full payment in cash, as opposed to a credit sale. A payment by check is considered cash. May be qualified, as “cash to new loan”, “cash to existing loan”, etc.

The amount of cash received compared to the amount of cash invested. Also called the Equity Dividend Rate, Cash Flow Rate or Equity Capitalization Rate.

A new mortgage loan that pays off any existing debts on the property and still gives the borrower cash.

A check drawn by a bank on itself rather than on an account of a depositor. A cashier’s check is generally acceptable to close a sale without waiting for the check to clear.

The exterior surface or covering of a building such as aluminum siding, a roof, etc.

A grill or grating placed in the ground over which cattle will not cross.

A narrow, elevated walkway along a wall, girders, or over a stage or other area where it may be necessary for a person to go for operation or repair.

A raised roadbed over lowlands. See also: Levee.

An atrium, courtyard.

“Let the buyer beware”. Legal maxim stating that the buyer takes the risk regarding quality or condition of the item purchased, unless protected by warranty or there is misrepresentation. Modernly, consumer protection laws have placed more responsibility for disclosure on the seller and broker.

Refers to a brick or stone wall which is actually built as two separate walls, joined only at the top and ends, and so “hollow”. Also called a hollow wall.