Component

Definition of "Component"

Part of something such as the units making up a heating or air conditioning system in a building.

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Popular Real Estate Terms

Financial Reinsurance

Transaction of reinsurance under which there is a limit on the total liability of the re-insurer and future investment income is a recognized componen ...

Prefabricate House

House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Norm ...

PITI

Principal, interest, taxes, and insurance. These are the components of the monthly housing expense. ...

Component Depreciation

An accounting methodology for separately depreciating individual parts or elements of a building or improvement qualifying as business use or a deprec ...

Housing Investment

The amount invested in a house, equal to the sale price less the loan amount. The House Investment Decision: Lenders impose the upper limit on how muc ...

Oregon Health Plan

Plan that provides a legal resident of the state of Oregon access to basic health care through three major components: Medicaid Reform (rationing) ext ...

Popular Real Estate FAQ

What Is A Home Warranty?

A home warranty is a guarantee for certain features of a new home-for instance, the materials and workmanship, the main components of the house, and s ...

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising water. ...

I Looked At A Property Yesterday With A REALTOR® Who Seems To Be Clueless. I Am Really Interested In Purchasing The Property, Though. Can I Switch Agents And Still Make The Purchase?

If you truly want to purchase that property, the only ethical thing to do is to purchase it through that REALTOR. Otherwise, you could set up potenti ...

If I Want To Buy A House And I Know The Property And The Seller Already Have An Agent, Can I Act As My Own Agent And Negotiate A Lower Fee?

You probably don't have the correct knowledge to represent yourself. The seller pays the real estate commission, not the buyer, and real estate commis ...

What Is A Buildable Acre?

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restrict ...