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| Prequalification
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The first stage of a mortgage application where the lender will run a basic credit report and determine your debt to income ratio in order to see how much mortgage you qualify for. |
| Presale
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Sale of proposed properties before construction is completed. |
| Prescribed burning
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Controlled application of fire to wildland fuels in either their natural or modified state, under specified environmental conditions, which allows the fire to be confined to a predetermined area, and to produce the fire behavior and fire characteristics required to attain planned fire treatment and resource management objectives.
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| Prescription
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Method of obtaining title to property through adverse possession, such as open, notorious, and continuous use of the property for a statutorily prescribed period of time. |
| Prescriptive easement
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Passage through the property of another, by long term usage without objection by the owner, which establishes precedence, which common law considers that a right has been established. |
| Present value
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The amount of money required to secure a specified cash flow at a future date at a specified return. |
| Present value analysis
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Way of valuing real estate that computes the discounted present value of an expected stream of income, including rental income and future capital gains or losses. |
| Present value of annuity
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The value now of a level stream of income to be received each period for a finite number of periods. |
| Present value of one
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The value today of an amount to be received in the future, based on a compound interest rate. |
| Present value tables
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Pre-calculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates. |
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