What does Principle of Conformity mean?

Principle of Conformity - The principle of conformity is a principle in real estate that states that a property will be more valuable if it conforms to the surrounding area. This means that a property that has similar characteristics, such as size, style, and age, to the surrounding properties will be more desirable and valuable than one that does not conform.

Related Terms

Proposal To Lease Cash reserves Earthquake Insurance Assessor Timeshare Property Value Active Solar System Caveat Emptor Credit Card Discounts Waiver of Subrogation (In a Lease) REALTOR Loan Processing Fee Classified Property Tax Restructured Loan Lease-purchase Option Bequest Lease Judicial Foreclosure