Definition of "Remodel"
The process of changing, updating, and altering the appearance and structural characteristics of a building. For example, John remodels the kitchen in his home by replacing the cabinets, floorings, and appliances, He use a new cabinet design as well as completely redesigning its appearance.
Popular Real Estate Terms
An increase in the income tax basis of a property that is a result of a tax-free exchange. As a result of an inheritance, for example, the basis of the inherited property was stepped up to ...
A backfill defines the act of replacing a vacant lot. People use a backfill as a replacement for an unoccupied position. Backfill in construction and archaeology! The most common ...
Arrangement whereby a party providing financing gets a portion of the ownership. ...
Same as term plat book: Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements ...
The term mortgage amortization is the steady switch occurring to each mortgage payment between how much interest is covered and how much principal each month. Simply put, mortgage ...
Matters that need to be rectified in a home or building prior to its sale or acceptance by a new owner. For example, a leaking water pipe should be repaired prior to showing the property to ...
If “image is everything”, then home staging is the most important and effective process in a real estate sale. But what is home staging? Well, when real estate agents are ...
Loans that adhere to national guidelines by Fannie Mae, who buy the loans on the secondary market. Fannie Mae purchases mortgages to a certain dollar limit. Conforming loans typically ...
To understand what an abatement notice is, one needs to understand the concept of nuisance abatement. Abatement notice is the notice given to the owner (or occupier) of a property as ...
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