Common Realestate Terms & Definnitions

Common Realestate Terms & Definnitions

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Common Realestate Terms & Definitions

Index

Contents | A B C D E F G H I J K L M N O P Q R S T U V W Z | Index Back to the Top

Abstract of judgment

Accelerated cost recovery system

Acceleration clause

Accelerated depreciation

Active solar system

Additional principal payment

Add-on interest

Adjustable Rate Mortgage (ARM)

Adjusted cost basis

Adjustment period

Administrator's deed

Adverse possession

Agreed boundary

Agreement of sale

Alienation clause

Alternative mortgage

Aluminum-clad windows

Aluminum siding

American Society of Home Inspectors

Americans with Disabilities Act

Amortization tables

Annual mortgagor statement

Annual Percentage Rate (APR)

Anticipatory breach

Application fee

Appraisal report

Appraised value

Architectural fees

As-is condition

Assessment rolls

Assumable mortgage

Assumption clause

Avigation easement

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Back title letter

Back-to-back escrow

Backwater valve

Balloon-frame construction

Balloon payment

Baseboard electric heat

Before-tax income

Bilateral contract

Biweekly mortgage

Blanket insurance policy

Blanket mortgage

Blue-ribbon condition

Board-and-batten siding

Board of Equalization

Breach of contract

Breach of covenant

Breach of warranty

Break-even point

Building and loan association

Building inspector

Building moratorium

Building permit

Builder upgrades

Building line or setback

Building restrictions

Bundle of rights

Buy-down mortgage

Buyer's remorse

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Cancellation clause

Capital expenditure

Capital gains tax

Capital improvement

Capitalization rate

Casement window

Cashier's check

Cash-out refinance

Cathedral ceiling

Central air conditioning

Central business district

Certificate of Deposit (CD)

Certificate of deposit index

Certificate of eligibility

Certificate of occupancy

Certificate of sale

Certificate of title

Change frequency

Chattel mortgage

Circuit breaker

Classified property tax

Closing statement

Cluster development

Collateral security

Combination door

Combination window

Commercial bank

Commercial property

Common-area assessments

Common-interest development

Community property

Community Reinvestment Act

Comparative market analysis

Compound interest

Concrete tilt-up

Conditional commitment

Condominium conversion

Consent judgment

Construction budget

Construction documents

Construction loan

Construction to permanent loan

Consumer Credit Counseling Service (CCCS)

Contemporary style

Contiguous lots

Contingency listing

Contract for deed

Contract to purchase

Contractual lien

Controlled growth

Conventional loan

Convertible adjustable rate mortgage

Cooperating broker

Cooperative corporation

Cooperative mortgages

Cooperative project

Corporate relocation

Corner influence

Corrective work

Cost-plus contract

Covenants, conditions and restrictions (CC&Rs)

Craftsman style

Creative financing

Credit life insurance

Credit repository

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Days on the market

Deep-seal floor drain

Deferred maintenance

Delinquent mortgage

Dimension plans

Disability insurance

Discount points

Distressed property

Document needs list

Double-hung window

Dovetail joints

Dropped ceiling

Due-on-sale clause

Dutch colonial style

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Early occupancy

Earthquake insurance

Effective gross income

Electric service panel

Employer-assisted housing

English Tudor style

Environmental impact statement

Environmentally friendly home construction

Equal Credit Opportunity Act.

Errors and omissions insurance

Escrow analysis

Examination of title

Exclusive listing

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Fair Credit Billing Act.

Fair Credit Reporting Act.

Fair Debt Collection Practices Act.

Fair Housing Act

Farmer's Home Administration

Federal Home Loan Mortgage Corp.

Federal Housing Administration

Federal National Mortgage Association

Federal Reserve Board

Federal Trade Commission

Fee simple defeasible

Firm commitment

Fixed installment

Fixed rate mortgage

Floor area ratio

Float floor drain

Flood insurance

For Sale By Owner (FSBO)

Freddie Mac (Federal Home Loan Mortgage Corp.)

Free-market lots

Fully amortized adjustable rate mortgage

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General contractor

Gingerbread decoration

Good-faith estimate

Government National Mortgage Association (Ginnie Mae)

Graduated-payment mortgage GPM)

Greek Revival style

Ground fault circuit interrupter

Growing-equity mortgage

Guarantee mortgage

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Hazard insurance

Historic preservation

Historic structure

Home equity conversion mortgage

Home equity loan

Home inspection

Homeowners association

Homeowners insurance

Homeowners warranty

Housing discrimination

Housing expense ratio

HUD-1 Uniform Settlement Statement

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Implied warranty of habitability

Income property

Incurable defect

Individual Retirement Account

In-file credit report

Infill development

Initial interest rate

Inspection report

Installment contract

Insurable title

Insurance binder

Interest accrual rate

Interest-only loan

Interest rate buy-down plans

Interest rate caps

Interest rate ceiling

Investment property

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Jalousie window

Joint liability

Judicial foreclosure

Junior mortgage

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Knob-and-tube wiring

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Landscape architect

Landscape designer

Landscape contractor

Leasehold estate

Legal description

Letter of intent

Liability insurance

Life-cycle cost analysis

Limited partnership

Liquidated damages

Listing inventories

Live-in partnership

Live-work space

Load-bearing wall

Loan application

Loan application fee

Loan commitment

Loan origination fee

Loan processing fee

Loan -to-value ratio

Low-documentation loan

Low-down-payment loan

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Main water shut-off valve

Manufactured housing

Maintenance fee

Managed-competition lots

Market conditions

Master-planned community

Maximum financing

Mechanical systems

Mechanic's lien

Merged credit report

Metes and bounds

Mixed-income housing

Mixed-use development

Money market account

Money market funds

Mortgage acceleration clause

Mortgage banker

Mortgage broker

Mortgage insurance

Mortgage-interest deduction

Mortgage life insurance

Motivated buyer

Motivated seller

Move-in condition

Multidwelling property

Multifamily mortgage

Multiple listing service (MLS)

Multiple offers

Municipal housing inspector

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Needs-based pricing

Negative amortization

Negative-slope driveway

Neo-traditional planning,

NIMBY (Not In My Back Yard)

No cash-out refinance

No-competition lots

No-documentation loan

Non-assumption clause

Non-liquid asset

Non-recurring closing costs

Notice of default

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Online real estate listings

Original principal balance

Origination fee

Owner financing

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Passive solar system

Percolation test

Per-diem interest

Personal property

Pest-control inspection

PITI (Principal, Interest, Taxes, Insurance)

Planned communities

Planned-unit development

Portfolio lender

Power of attorney

Pre-approval letter

Prepaid expenses

Prepaid interest

Prepayment penalty

Pre-qualification

Pressure relief valve

Principle of conformity

Principle of progression

Principle of regression

Private mortgage insurance (PMI)

Production home

Property report

Property tax deduction

Purchase agreement

Purchase-money mortgage

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Qualifying ratios

Queen Anne style

Quit-claim deed

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Rammed-earth construction

Rate-improvement mortgage

Real estate agent

Real estate attorney

Real estate broker

Real estate investment trusts (REITs)

Real Estate Settlement Procedures Act (RESPA)

Rehabilitation mortgage

Relocation benefits

Relocation company

Remaining balance

Renter's insurance

Rent loss insurance

Replacement reserve fund

Restructured loan

Return on investment

Reverse mortgage

Right of first refusal

Right to recission

Rural Housing Service

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Schematic designs

Second mortgage

Secondary mortgage market

Seller carry-back

Seller take-back

Seller's market

Semi-custom home

Settlement statement

Shared-appreciation mortgage

Shared-equity transaction

Slab foundation

Spanish Mission style

Special assessment

Special deposit account

Speculation home

Split-level style

Standard Metropolitan Statistical Area

Standard payment calculation

Step-rate mortgage

Straight purchase

Subordinate loan

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Tear-down condition

Tenancy by the entirety

Tenants in common

The 72-hour clause

Third-party origination

Title insurance

Total expense ratio

Transfer of ownership

Truth-in-Lending Act

Two-step mortgage

Two- to four-family property

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Undisclosed heir

Undisclosed spouse

Unrecorded deed

U.S. Department. of Housing and Urban Development

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Variable interest rate

Variable rate mortgage

Vaulted ceiling

Verification of deposit

Verification of employment

Veterans Administration (VA)

Victorian style

Vinyl-clad windows

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Walk-out basement

Window well covers

Wraparound mortgage

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Zoning variance

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Contents | A B C D E F G H I J K L M N O P Q R S T U V W Z | Index

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