- A defect found at a property that is easily or inexpensively fixed, such as leaky faucet, a damaged base board or broken door knob. Peeling paint would be a curable defect whereas being located in a crime-ridden neighbourhood is not.
fixable, correctable, easily repaired, easily covered
Related Terms and Acronyms
- Corrective Work — Definition,
- Repairs or maintenance that a buyer requests be done on a house before closing.
- Fixer-upper (fxr) — Abbreviation,
- A house that needs a lot of work and which sells for a discount.
- Home Inspection — Definition,
- A thorough examination of a house's visible structural parts and systems, conducted before purchase.
- Home Warranty — Definition,
- A policy that guarantees workmanship on construction of a home and functionality of some appliances, and which pays for repairs for a specified period.
- Latent Defect — Definition,
- A deficiency in a piece of property that can't be seen easily, such as termite damage or the presence of dangerous levels of radon.