Definition of "Modular housing"

Sandy  Cleland real estate agent

Written by

Sandy Clelandelite badge icon

RE/MAX Results

A prefabricate house constructed in a factory with final assembly and erection on site. Because of economies of scale and modern factory production techniques, modular housing is considerably cheaper than housing constructed totally on site.

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

The nonavailability of jobs for people able and willing to work at the prevailing wage rate. It is important measure of economic health, since full employment is generally constructed as a ...

Method of using the buyer's down payment on a home as an interest bearing collateralized account to help offset the mortgage amortization process. The home down payment is used to ...

A form of life or disability insurance where a mortgagor insures a mortgage in the event of death or disability. The principal covered by mortgage insurance declines as the mortgage is ...

Stature regulating the use of credit information. Allows consumers such as prospective homeowners access to their credit files. It requires a lender to explain how loan interest is ...

Planned subdivision where detached housing is located in the close proximity to each other. Additionally, the subdivision shares common open space including parking and recreation areas. ...

As a hopeful house hunter, renter, or seasoned real estate investor, you've probably come across baffling terms. One such term is "adhesion contract." It might sound complex, but don't ...

Claim on property by an unpaid workman or contractor. The property may be sold to recover the money owed. The legal justification of the mechanic's lien is that the labor and materials ...

Limit on how much a borrower's payment can increase. ...

Person's sole ownership of real property. ...

Popular Real Estate Questions