Curable Defect

Definition

  • 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.

Synonyms
fixable, easily repaired, easily covered, correctable

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.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage