Definition of "Modernize"

Kimberly Graziadei real estate agent

Written by

Kimberly Graziadeielite badge icon

Berkshire Hathaway HomeServices New Jersey Properties

To upgrade a facility by installing up-to-date technology as well as introducing stylistic changes reflecting current patterns. Modernizing a facility can add substantially to its value and marketability. For example, a modern kitchen and baths make a house show better and sell more easily.

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

Power of attorney giving permission for a lawyer to represent a client. ...

A lessee (tenant) subleases the apartment to a third party .The tenant is now sandwiched between the lessor and the sublessee. In other words, the tenant is acting as a lessee to the ...

The Loan-to-value ratio (LTV)  is a calculation that measures how much you need to pay for a mortgage (loan) concerning how much the asset is worth. The loan-to-value ratio in real ...

Modification in the amount of money involved for some justifiable reason. ...

(1) Provided by a commercial or savings bank to the real estate company itself or to another party for documentation purposes. Such a letter may be needed by a prospective condominium owner ...

A simple box-shaped house with clapboard siding and a gable roof. ...

Across the globe, countries have comprehensive antitrust laws that protect customers and ensure the orderly conduct of businesses. Through antitrust laws, the playing field is balanced for ...

Financial institution that channels the savings of its depositors mostly into mortgage and home improvement loans. It concentrates on originating , servicing, and holding mortgage loans. ...

Roof having less than a 10 degree slant. ...

Popular Real Estate Questions