| P Terms
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Pacific Security Capital
|
A leading commercial real estate investment bank. Pacific
Security Capital is a direct lender and intermediary offering
Acquisition, Development, Construction, Renovation, Bridge,
Mezzanine and Permanent Financing of commercial real
estate projects requiring more than $2MM in Financing. |
Partial Taking
|
The taking of part (a portion) of an owner’s property
under the laws of eminent domain. |
Passed In
|
The highest bid fails to meet the reserve price of a property
at an auction and consequently does not sell. |
Plat (Plat Map)
|
Map of a specific area, such as a subdivision, which shows
the boundaries of individual parcels of land (e.g. lots) together
with streets and easements. |
Power-of-Attorney
|
The person who has authority to execute documents on behalf
of the grantor of the power. |
Preleased
|
Refers to space in a proposed building that has been leased
before the start of construction or in advance of the issuance
of a Certificate of Occupancy. |
Pre-qualification
|
The process of determining how much money a prospective
home buyer will be eligible to borrow before he or she applies
for a loan. |
Prime Rate
|
The interest rate that banks charge their preferred customers.
Changes in this rate can influence other rates including mortgage
interest rates. |
Prime Space
|
This typically refers to first generation (new) space that
is currently available for lease and which has never before
been occupied by a tenant. |
Principal
|
The amount borrowed or still to be repaid. The part of the
monthly payment that reduces the balance of the mortgage. |
Private Sale
|
The sale of a property by the owner without the services
of a real estate agent. |
Private Treaty Sale
|
The sale of property, through an estate agent, by negotiation. |
Proxy
|
A person who represents another, particularly in some meeting.
Also, the document giving to another the authority to represent. |
Public Housing
|
Government-owned housing made available to low-income individuals
and families at no cost or for nominal rental rates. |