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BUYER'S MARKET Market conditions that favor buyers. With more sellers than buyers in the market, sellers may be forced to make substantial price concessions. DELINQUENCY Failure to make payments as agreed in the loan agreement. FREDDIE MAC A common nickname for the Federal Home Loan Mortgage Corporation. IMPROVEMENTS Valuable additions made to property, amounting to more than repairs, costing labor and capital and intended to enhance the value of the property. Improvements of land would include grading, sidewalks, sewers, streets, utilities, etc. Improvements on land would include buildings, fences, and the like. COURTESY TO BROKERS The practice of sharing commissions with cooperating brokers. |
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