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Donna Land For Sale
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Land Lingo: For any one starting of in the real estate business it is very important to be familiar with all the commonly used terms in business, in order to avoid looking like a fish out of water. Though the lingo may sound foreign, it is very necessary to learn this, even for the ones already in the business, when updating their knowledge. · ALC: ALC stands for 'Accredited Land Consultants'. It is an elite and prestigious designation that can be acquired through the land Institute. Interested candidates need to complete RLI’s rigorous education program, along with having a proven track record of performance, and also pass the summary exams. ALCs are real estate professionals which provide great advice and valuable support to those looking to acquire or dispose of their land. · Land Values: The term land value simply means the worth of a plot of land. There are many factors such as use of land, economic conditions, state of market, legislation etc., which impact land values. · 1031 Exchange: This is one of the most common terms used in real estate business. Taxes on selling land are high, so naturally when a seller sells his land, he is always looking to save as much as tax money he can. A 1031 exchange fulfills this objective. It allows the sellers to delay paying capital gains taxes if they reinvest the proceeds from the sale in a like-kind type of property. · RLI: This is the abbreviation for REALTORS Land Institute. This is the leading land real estate organization. It helps land real estate professionals to become best by providing them with education, networking and other valuable resources. · Transitional Land: Essentially when we switch the reason we use the land for, in order to increase profitability and land value, such land can be called transitional land. For example: when somebody purchases a vacant land, which is otherwise perfect for ranching, and does make the effort to transition the land into a ranch land. Such a person can sell the land at a much higher price. · Agritourism: Any Type of activity that attracts tourists and visitors to your land can be termed as agritourism. These activities include: horseback riding, on sight sales, U-pick, wine tasting, fishing, guided tours and much more. · Perc Test: Percolation test popularly known as perc test, is a test that evaluates the rate that water drains through soil. While determining the best use of a property, this test plays a huge role. As the rate determines the structures that the land can hold and also what crops can grow on the land. · Conservation Easement: This is nothing but a legally binding agreement that aims to protect the land's natural resources by preventing certain uses of a property. · Title: A plot of land has many rights tied to it. The bundle of all such rights is termed as title. Such rights are separate from each other and therefore can be divided and held by different parties. · TAV: This is the abbreviation for Tax Assessed Value. Simply put, it is the amount on which the seller's property taxes are calculated on. TAVs are updated every few years and are available in public domain. Check out for these terms when you opt for the ‘Donna land for sale’.
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