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FARM AREA A selected geographical area or one specific building to which a real estate salesperson devotes special attention and study. EXECUTORY CONTRACT A contract in which one or both of the parties has not yet performed. BEARER The legal owner of a piece of property. SWEAT EQUITY Value added to a property in the form of labor or services of the owner rather than cash. FEDERAL HOUSING ADMINISTRATION (FHA) A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans. |
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