Redevelop
Demolition and removal of all existing structures on a building site and the subsequent construction of a totally new building structure. For example, in a downtown redevelopment project, all the older private homes were demolished and a high-rise public housing facility was constructed.
Popular Real Estate Terms
An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...
Situation in which an owner of property sells the property to an investor and then leases the property back, usually for a 20- or 30- year term. ...
Insurance coverage for any risk that can cause physical damage to the insured item. ...
Lien on a given property, such as an person's house as a collateral for a loan. ...
Square footage of space a parcel of land has. ...
The geographic moving of an individual from one region to another usually because of a change in employment. Relocation normally involves the complete moving of the individual's ...
Same as term deed of trust: A document that conveys title to a neutral third party (trustee) during the period in which the mortgage loan is outstanding as collateral for a debt. ...
What is a balcony? A balcony is a platform that extends outwards from the upper level of a building, typically attached to a wall or supported by columns. Balconies can be made of various ...
Something that is hidden or overlooked and may be realized at a later time. For example, an individual's name is improperly spelled on a title deed, and the oversight is not noticed until ...
Have a question or comment?
We're here to help.