This information is provided for reference only. Real estate laws are different in each state.
If in doubt about any real estate matter seek the advice of an attorney.
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Net Lease A lease in which the tenant pays such expenses as taxes, insurance, repairs, utilities, etc. Also see Gross Lease.
Net Listing A price, which must be expressly agreed upon, below which the owner will not sell the property and at which the broker will not receive a commission; the broker receives the excess over and above the net listing price as commission. The broker in this type of listing will have a very hard time maintaining his fiduciary responsibilities to his seller since his interests are potentially at odds with the interests of the seller.
Non-Agent Limited form of agency used in Florida in which the agent does not represent the seller or the buyer. Comment: This form of agency offer a NO level of service and should never be considered unless you are very knowledgable about real estate and the agent offers a drastically reduced rate of commission. Since you will be getting less than full service and no representation whatsoever, you should not have to pay full price.
Nonconforming Use A property which does not conform to the zoning of an area.
Note A written instrument of credit attesting to a debt and promise to pay.
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