Utah Real Estate Terms - B

Utah Real Estate Terms | Glossary of Real Estate Terms | Realty Terms for Utah| Property Terms | "B" Terms
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B

Binder or "Offer to Purchase"A preliminary agreement, secured by the payment of earnest money, between a buyer and seller as an offer to purchase real estate. A binder secures the right to purchase real estate upon agreed terms for a limited period of time. If the buyer changes his mind or is unable to purchase, the earnest money is forfeited unless the binder expressly provides that it is to be refunded.

BrokerAn independent businessperson who sets real estate office policies, hires employees, determines their compensation, and supervises their activities.

Building Line or SetbackDistances from the ends and/or sides of the lot beyond which construction may not extend. The building line may be established by a filed plat of subdivision, by restrictive covenants in deeds or leases, by building codes, or by zoning ordinances.

Buyer AgentAn agent who represents the buyer in a real estate transaction. A buyer agent may be paid by the buyer, seller, or listing agent at closing, provided all parties consent.

 

 

 

 

 

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Utah Real Estate Terms | Glossary of Real Estate Terms | Realty Terms for Utah | Property Terms | Utah Glossary of Terms | Salt Lake City, Utah

Utah Real Estate Terms. Definitions for common terms used in Utah real estate transactions. Glossary of real estate and property terms used in Salt Lake City, Provo, Park City, Utah.

Serving Alpine, Alta, American Fork, Bluffdale, Bountiful, Cedar Hills, Centerville, Cottonwood Heights, Daybreak, Deer Valley, Draper, Eagle Mountain, Emigration Canyon, Farmington, Heber City, Herriman, Highland, Holladay, Kamas, Kearns, Layton, Lehi, Lindon, Magna, Mapleton, Midvale, Midway, Murray, North Ogden, North Salt Lake, Ogden, Orem, Park City, Payson, Pleasant Grove, Provo, Riverton, Salt Lake City, Salt Lake County, Sandy, Saratoga Springs, Snowbird, South Jordan, South Ogden, South Salt Lake, Spanish Fork, Springville, Sundance, Summit County, Taylorsville, Tooele, West Bountiful, West Jordan, West Valley, Woods Cross, Utah County.