Personal Property
Movable items not permanently affixed to the real estate — furniture, appliances not built in, equipment. Residential appraisals for lending exclude personal property; when sales include it, the appraiser adjusts it out of the price.
Related Terms
Real Estate
The physical land and everything permanently attached to it — structures, fixtures, and natural features.
Going Concern Value
The total value of an established operating business and the real estate it occupies — real property, tangible personal property, and intangible business value combined.
Cash Equivalency
A sale price restated as if the transaction were all-cash on market terms.
More in Property Characteristics
View allGross Living Area (GLA)
GLAThe total finished, above-grade living area of a residential property, measured in square feet.
Gross Building Area (GBA)
GBAThe total area of a building measured from the exterior walls, including all finished and unfinished, above-grade and below-grade spaces.
Below-Grade Area
Any portion of a building that is below the ground level on any side.
ANSI Z765 Measurement Standards
ANSIThe American National Standards Institute standard for measuring residential floor area.