Property Conversion

Converter
A converter is an active real estate entrepreneur who changes the ownership and/or physical configuration of property. Converters often transform properties into different usage types or upgrade them to increase their value.
Master Deed
A Master Deed, used by condominium developers or converters, is a legal document that records the division of a property into individually owned units, includes restrictions on their use, and outlines ownership of common areas.
Preclosing
Preclosing is a process conducted prior to the final closing of a real estate transaction whereby instruments are prepared and signed by some or all parties involved in the contract. This process is especially useful in complex transactions involving multiple parties or arrangements.

Real Estate Lexicon

With over 3,000 definitions (and 30,000 Quizes!), our Lexicon of Real Estate Terms equips buyers, sellers, and professionals with the knowledge needed to thrive in the real estate market. Empower your journey today!

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