{"id":953,"count":1,"description":"\r\nWhat is revocation?\r\n\r\nA revocation refers to retracting or cancelling something that was offered. In real estate, the object of a revocation can vary. Instances include, but are not limited to:\r\n- Revocation of a right of representation \u2013 for example, Party 1 has granted power of attorney to Party 2, but conditions have changed and Party 1 decides to change representation, as well. Therefore, Party 1 revokes the power of attorney, and Party 2 no longer acts on behalf and instead of Party 1.\r\n- The same can apply to real estate representation, where a property owner revokes (cancels the authority) that had been previously granted to a real estate agent to represent the owner\u2019s property on the market.\r\n- License revocation \u2013 a real estate license can be revoked permanently or temporarily, as disciplinary action towards the license holder. For example, lack of disclosure regarding a property is a form of misrepresentation. If, following the closing of a real estate transaction, a client suffers material loss, which the client considers to be caused by misrepresentation on behalf of the real estate agent, the client may decide to file a lawsuit, which, in turn, may result in a revocation or suspension of the agent\u2019s real estate license\r\n- Offer revocation \u2013 a buyer may make offers for several properties, but quickly decides on following through with only one of them. The other offers that were made can, ideally under pre-arranged terms and conditions, be retracted or canceled.\r\n\r\n\r\nYou might also be interested in:\r\n\r\n \tHow is yield estimated?<\/a>\r\n \tHow to become a real estate agent?<\/a>\r\n \tHow to become a real estate broker?<\/a>\r\n\r\n\r\n\r\nSearch other terms\r\n\r\n\r\n\r\nA<\/a>\r\nB<\/a>\r\nC<\/a>\r\nD<\/a>\r\n\r\n\r\nE<\/a>\r\nF<\/a>\r\nG<\/a>\r\nH<\/a>\r\n\r\n\r\nI<\/a>\r\nJ<\/a>\r\nK<\/a>\r\nL<\/a>\r\n\r\n\r\nM<\/a>\r\nN<\/a>\r\nO<\/a>\r\nP<\/a>\r\n\r\n\r\nQ<\/a>\r\nR<\/a>\r\nS<\/a>\r\nT<\/a>\r\n\r\n\r\nU<\/a>\r\nV<\/a>\r\nW<\/a>\r\nX<\/a>\r\n\r\n\r\nY<\/a>\r\nZ<\/a>\r\n\r\n\r\n\r\nPopular terms\r\n\r\n\r\n\r\nAmortization<\/a>\r\n\r\n\r\nEquity <\/a>\r\n\r\n\r\nNotary Public <\/a>\r\n\r\n\r\nProgression\/Regression<\/a>\r\n\r\n\r\nAcquisition <\/a>\r\n\r\n\r\nAnnuity <\/a>\r\n\r\n\r\nAsset <\/a>\r\n\r\n\r\nFiduciary <\/a>\r\n\r\n\r\nInflation <\/a>\r\n\r\n\r\nContingency <\/a>\r\n\r\n\r\nEscrow<\/a>\r\n\r\n\r\nPower of attorney <\/a>\r\n\r\n\r\nReal Estate Agent <\/a>\r\n\r\n\r\nEminent Domain <\/a>\r\n\r\n\r\nLiability <\/a>\r\n\r\n\r\nStatute of Limitations<\/a>\r\n\r\n\r\nValid <\/a>\r\n\r\n\r\nVariance<\/a>\r\n\r\n\r\nContiguous <\/a>\r\n\r\n\r\nDeficit<\/a>\r\n\r\n\r\n\r\n","link":"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-revocation\/","name":"Revocation","slug":"cre-term-revocation","taxonomy":"post_tag","meta":[],"yoast_head":"\nWhat is Revocation? - Commercial Real Estate Dictionary<\/title>\n<meta name=\"description\" content=\"A revocation refers to retracting or cancelling something that was offered. In real estate, the object of a revocation can vary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-revocation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revocation Archives\" \/>\n<meta property=\"og:description\" content=\"A revocation refers to retracting or cancelling something that was offered. 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