Prefabricate House
Definition of "Prefabricate house"
House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Normally, the prefabricate house is trucked onto the home site as a complete unit where it is installed on a completed foundation. Often times the prefabricated house is installed in preassembled components which are simply attached to each other on site. The advantages of a prefabricated house include lower cost, as a function of mass production and high quality.
Popular Real Estate Terms
The income earned on an investment, typically stated as a percentage of the market price ...
The term actual notice is used most often in connection with property law, but the concept can also be applied in other law areas. To define actual notice, we can look at the two major ...
Legal proceeding whereby a person's property is attached and used to pay an obligation. The employer may withhold part of the employee's salary to the court until the debt has been paid. ...
Representative house, apartment, or cooperative used as a sales tool to show how the actual unit bought will probably appear in design and construction. An example is a model apartment. ...
The right to possess, exclusively occupy, enjoy, control, and dispose of real estate. Ownership rights to realty are granted by the ownership of a title to real property. ...
A clause inserted in a mortgage agreement requiring a future buyer of the subject property to obtain the consent of the lending institution prior to assuming the mortgage. In this ...
The amount of a periodic payment, whether monthly, quarterly, or annually, including interest and principal, required for a mortgage payment. ...
Individual or entity who pays for the professional services of another person or business. ...
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 ...
Have a question or comment?
We're here to help.