Functional Deficiency


Definition of "Functional deficiency"

Steve Holcomb
  Americom Realty

Negative characteristics about real property which do not meet the needs of the usual occupant. Examples are inadequate lighting in the rooms and a one-car garage when a two-car garage is required.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Livestock Floater

Standard Commercial Property Floater form covering death or damage to livestock as the result of ins ...

Pre-Qualification

Same as term Qualification: The process of determining whether a prospective borrower has the abi ...

Write-down

Reduction of part of the balance of property by charging an expense or loss account. The reason for ...

Contributing Insurance

Same as term Contribution: principle of equity in property, casualty, and health insurance. When two ...

Ante

Prefix meaning coming before or in front of something else. ...

Discounted Cash Flow (DCF) Techniques

(1) Methods that involve discounting the future cash flows generated by an income property. These t ...

Related Real Estate FAQ

What Is A Mortgagor?

A mortgagor is the borrower. ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

How Much Life Insurance Do I Need?

Every person has a different idea of what financial security means. If so, should happen to you, how ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Does FSBO Mean?

FSBO means for sale by owner. ...

What Is A Mortgage Broker?

A mortgage broker is an intermediary who ensures a loan between a borrower and lender. The broker ta ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Short Sale Homes Getting Ready to Sell? Don't make these DIY Mistakes! Is it better to buy or sell a home first 7 Tips for a First Time Homebuyer When to buy a house

FAQ

What type of a home is a condominium? What is a gated community? What is a front-end ratio? What is depreciation? What is a lifetime rate cap?