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

When looking for the definition of a land surveyor, most definitions are quite simple and concise: a land surveyor is a person who measures the distance between two points, the angle ...

Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...

An adversary hearing allows both parties to an issue to present their views. A public procedure performed by an administrative or legislative body to investigate certain matters and ...

Situation in which a business debts exceed the fair market value of its assets. ...

Person who leases rented premises from the initial lessee. The sublease is for a time not exceeding the original lease period. ...

Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...

The definition of a storm ready community is any community across the country that demonstrates it has the means to prepare and educate the population for severe weather conditions. ...

(1) The interest rate charged on a construction loan. (2) The rate at which construction loan progress payments are made. See also bridge loan; bullet mortgage; development loan. ...

Legal abbreviation meaning with husband. ...

Popular Real Estate Questions