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P
Parcel
In a strata scheme, a unit of strata subdivision is referred to
as a "parcel".
Periodic Tenancy
A tenancy that is not bound to a lease with a fixed period, but
follows another period such as a month-to-month tenancy or a
week-to-week tenancy.
Power of Attorney
Instrument authorizing a person to act as the
agent of the person granting it, and a general power authorizing
the
agent to act generally on behalf of the principal. A special
power limits the
agent to a particular act for example, a landowner may grant an
agent special power of attorney to convey a single, specific
parcel of property. Under the provisions of a general power of
attorney, the
agent having the power may convey any or all property of the
principal granting the general power of attorney.
Pricing
Deals with the valuation (finance) of a property. There are three
main methods:
appraisals with comparable properties,
capitalization
rate comparisons with similar income producing properties and
discounted present value of expected future cash flows.
Prospecting
The step in the selling process that identifies potential customers
for a product.
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