Construction & Development Entitlements Government approvals (zoning, permits, density) that grant the right to develop a property.
Construction & Development Feasibility Study An analysis determining whether a proposed development is financially and physically viable.
Construction & Development General Contractor (GC) The lead contractor responsible for overseeing a construction project’s day-to-day execution.
Closing & Transactions Mobile Notary A notary who travels to the signer’s location, common for remote real estate closings.
Closing & Transactions Mortgage Recording Tax A state tax on new mortgages, common in NY and a few other states.
Closing & Transactions Notary Public An official authorized to witness signatures on legal documents.
Closing & Transactions Option Period A negotiated window allowing the buyer to back out without losing earnest money.
Closing & Transactions Possession at Funding Buyer takes possession when the loan funds — typical same-day closings.
Closing & Transactions Possession at Recording Buyer takes possession when the deed records — common in some western states.
Closing & Transactions Possession Date The date when the buyer takes physical possession of the property — sometimes different from closing.
Closing & Transactions Power of Attorney (Closing) A document allowing another to sign closing paperwork on behalf of an absent party.
Closing & Transactions Proration The division of property taxes, HOA dues, or rents between buyer and seller at closing.
