Commercial, Residential, Rental Properties in India
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Real Estate Glossary
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P Terms :
Pacific Security Capital
A leading commercial real estate investment bank. Pacific Security Capital is a direct lender and intermediary offering Acquisition, Development, Construction, Renovation, Bridge, Mezzanine and Permanent Financing of commercial real estate projects requiring more than $2MM in Financing.
Partial Taking
The taking of part (a portion) of an owner’s property under the laws of eminent domain.
Passed In
The highest bid fails to meet the reserve price of a property at an auction and consequently does not sell.
Plat (Plat Map)
Map of a specific area, such as a subdivision, which shows the boundaries of individual parcels of land (e.g. lots) together with streets and easements.
Power-of-Attorney
The person who has authority to execute documents on behalf of the grantor of the power.
Preleased
Refers to space in a proposed building that has been leased before the start of construction or in advance of the issuance of a Certificate of Occupancy.
Pre-qualification
The process of determining how much money a prospective home buyer will be eligible to borrow before he or she applies for a loan.
Prime Rate
The interest rate that banks charge their preferred customers. Changes in this rate can influence other rates including mortgage interest rates.
Prime Space
This typically refers to first generation (new) space that is currently available for lease and which has never before been occupied by a tenant.
Principal
The amount borrowed or still to be repaid. The part of the monthly payment that reduces the balance of the mortgage.
Private Sale
The sale of a property by the owner without the services of a real estate agent.
Private Treaty Sale
The sale of property, through an estate agent, by negotiation.
Proxy
A person who represents another, particularly in some meeting. Also, the document giving to another the authority to represent.
Public Housing
Government-owned housing made available to low-income individuals and families at no cost or for nominal rental rates.


 


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