List and Define the Steps Involved in the Sale of Real

question 29

Essay

List and define the steps involved in the sale of real estate.

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Definitions:

Liability Likelihood

The probability or likelihood that a company will be responsible for an obligation or debt in the future.

Reasonably Possible

A term used in accounting and finance to denote outcomes that are more than a remote possibility but less likely than probable.

Estimable

Capable of being estimated or approximately calculated.

Note Discounted

A financial term referring to a promissory note that is sold for less than its face value before it reaches maturity.