Terms with Category Real Estate

  • Effective Age Bank,
    • An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
  • Empty Nesters Definition,
    • Men or women whose children have grown up and moved out and who might be in the market for a smaller house.
  • En Suite Definition,
    • An en suite is a bathroom that is entered directly from ones.
  • Encroachment Definition,
    • An improvement, such as a fence, that illegally extends onto another property or impedes the neighbour's use of that property.
  • Encumbrance Bank,
    • Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
  • Environmental Impact Statement (EIS) Bank,
    • A government-required evaluation of how construction will affect the environment surrounding a site.
  • Escrow Bank,
    • An account in which money for property taxes and insurance is held until paid. Money is added to the account every time a mortgage payment is made.
  • Escrow Agent Bank,
    • A neutral third party who holds the documents and money in a real-estate transfer until all conditions are met.
  • Estate Bank,
    • The total sum of all the real property and personal property owned by an individual at time of death.
    • The ownership interest of an individual in real property.
  • Eviction Definition,
    • The act of kicking someone out of a property, usually for violating terms of a lease.
  • Examination of Title Definition,
    • A review of public records and title abstracts to determine the chain of ownership of a property.
  • Exchange Bank,
    • A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
  • Exclusive Listing Definition,
    • A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
  • Expropriation Definition,
    • The seizing of property to the government or other party for public use or economic development.
  • Fair Market Value (FMV) Acronym, Very Important,
    • The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • Fee Simple Definition,
    • Outright ownership of real estate, free of any liens or other claims against title.
  • Fee Simple Defeasible Definition,
    • When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
  • Field Changes Definition,
    • Modifications made to a building on-site.
  • Finder Fee Bank,
    • A fee paid by a party to another for services rendered.
  • Fixed Time Definition,
    • The time of year when the owner in a timeshare arrangement is scheduled to have occupancy.
  • Fixer-upper (fxr) Abbreviation,
    • A house that needs a lot of work and which sells for a discount.
  • Fixture Definition,
    • Personal property that becomes real property when it is attached to a building. Examples include chandeliers, built-in bookcases and cabinets and drapery rods.
  • Flat Fee Bank,
    • A fixed charge that a broker requests instead of a commission.
  • Flex Room Definition,
    • A room within a home that can change usage to meet need.
  • Flood Plain (flpl) Abbreviation,
    • Land that is prone to inundation.
  • Florida Room Definition,
    • An enclosed porch built on the back or side of a house, sometimes air-conditioned.
  • For Sale By Owner (FSBO) Acronym, Very Important,
    • An arrangement by which a house's owner tries to sell the house without hiring a real-estate agent. Owners do this to avoid paying a commission.
    Can save the seller money by forgoing realtor fees.
  • Full Market Value Definition,
    • In reference to property taxes, usually refers to the tax rate applied to 100 percent of the property's value. Also full cash value.
  • Full-bath (fb, fbh, full ba) Abbreviation,
    • A bathroom with a toilet, sink/sinks, bathtub and shower.
    • A bathroom with a toilet, a sink, a bathtub, and a shower, with the latter two usually combined.
    • A bathroom with a toilet, a sink, a bathtub, and a shower, with the latter two usually combined.
  • General Contractor Definition,
    • The person or company that performs work on a construction project, hires subcontractors and suppliers, or both.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage