Summit County real estate glossary
 
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Summit County Real Estate Glossary K
From Key Economic Indicators to Knock-down

Return to the Real Estate Glossary

Key money - A cash payment paid to a existing tenant who assign their lease to a third party where the rent is below market, possibly in an area with strict rent controls.

Kiting - An illegal practice of writing a check against insufficient funds that takes advantage of the float, the time between when a check is written and deposited in one back and when it is presented for colllection at another bank.

Knock-down - To assign a sale to a bidder at a property auction by a knock or blow of the auctioneer's hammer, or by any audible or visible announcement signifying to the bidder that he has the winning bid and is entitled to the property.

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Barrie Stimson
LIV Sotheby's International Realty
101 S. Main Street
P.O. Box 2619
Breckenridge, CO 80424

Email: barrie@go2breck.com

Direct Line: 970-390-2560
 
 
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