Holdout (real estate)

Hey little buddy, do you know what a holdout is in real estate? Well, let me explain it to you!

When someone owns a property but doesn't want to sell it, even though it might be surrounded by others who do want to sell, that's called a holdout!

Basically, when a property owner doesn't want to sell their property, it can create a challenge for developers who want to build something new or improve the area around it. They might try to negotiate with the holdout, but if they can't come to an agreement, they might have to change their plans or even abandon the project altogether.

Holdouts are a big deal in real estate because they can make it hard for developers to get things done. But at the same time, it's important to respect property owners' rights to decide what they want to do with their own property. So, it's kind of a tricky situation with different sides to consider.