Definition of "Contractor"

Elaine Knuth real estate agent

Written by

Elaine Knuthelite badge icon

Century 21 Town & Country

(1) Individual or business that is engaged to do some sort of construction work for another for a fee. There are basically three types of contracting: A general contractor enters into a direct contractual agreement with the property owner for the entire construction activity. A subcontractor is employed by the general contractor to do part of the work. An independent contractor is directly engaged by the property owner to do a portion of the construction activity (a specific item). The independent contractor controls how the work is performed.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Ambiguous contractual language that may result in an unsuspecting buyer of a real property incurring obligations or risks not clearly evident. ...

Cash earnings generated from a real estate investment or property. Cash earnings equals cash revenue less cash expense. The cash earnings may or may not be discounted to its present value ...

To enter illegally. For example, entering property without permission. ...

When answering the question of what is a real estate investor, several aspects should be considered. First, a real estate investor, also known as a real estate entrepreneur, allocates ...

Maximum credit a prospective buyer may be given. An example is the maximum mortgage a prospective home buyer may receive from the bank. ...

Roof with one side that is at a sloped angle. ...

Leasing commercial or industrial real estate can be a perplexing process. As a tenant (and as a landlord,) you must consider several aspects before actually signing the deal. Even top local ...

One who purchases an option. For example, John pays Brian $10,000 for an option to purchase property at $100,000 within six months. ...

Form of zoning regulation permitting all the uses permitted in more restrictive zoning to also apply to less restrictive zoning. The net affect of pyramid zoning is to pyramid only a few ...

Popular Real Estate Questions