Furring Strip

Document that must accompany a new issue of securities for a real estate company or partnership. It includes the same information in the registration statement, such as a list of directors ...

Range reconnaissance, or surveying, for the purpose of preparing grazing capacity estimates. There are two parts to a range survey: mapping of grazing cover varieties and associated ...

Also called the Rule of the Sum of the Digits. An approach that bank use to formulate a loan amortization schedule. It results in a borrower paying more interest in the beginning of a ...

Inflation adjusted interest rate. ...

Beam, girder, or truss with the top portion being in the shape of a bow and the bottom portion being straight across and connecting both ends of the top portion. ...

Lack of supply of real property. When demand exceeds supply, price of the property goes up. For example, if there are only a few homes in a town that everyone desires to reside in, the ...

A hidden or overlooked defect that may manifest itself at a later point in time. For example, a defect in a water pipe is not immediately discovered, and it later results in a massive water ...

In law, substituting a suitable person or entity for an original party to a contract. It terminates the old contract and begins a new one. The new contract has the same provisions, but ...

Are you worried about the constant speeding on your street and neighborhood and you wish to do something to stop it? Traffic calming is the name given to measure that seek to give an order ...

Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

You’ve been invited to a housewarming party (or just invited to meet a friend’s new house) and you don’t know what to bring… well, that's why our real estate ...

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to ...

Every client is important no matter how big or small is a business. But selling real estate is somewhat different than selling doughnuts or hot dogs. Houses are most likely the most ...

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations for the upkeep of the property. ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...