Utility


Definition of "Utility"

  1. An economic and highly subjective term describing satisfaction of a specified want. Utility and usefulness are not necessarily synonymous terms.
  2. The value of a certain outcome or payoff to someone; the pleasure or displeasure that person would derive from that outcome.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Change Of Beneficiary Provision

Element of a life insurance policy permitting the policy owner to change a beneficiary as frequently ...

Open Listing

An agreement permitting a real estate agent to sell the property while also allowing the homeowner o ...

Basic Time Frame

Time period, for a life insurance policy, in which losses occur. This period must be determined to p ...

Sole Plate

A two-by-four used for wall resilience and partitioning. Studs rest on it. ...

Market Value Adjustment (mva)

Increase or decrease in the surrender charge of the life insurance policy or annuity contract depend ...

Life Insurance Cost

Amount paid to an insurer. Determination of the actual cost (not the price paid) of a life insurance ...

Related Real Estate FAQ

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

What Is A Buyer’s Agent?

An agent hired by buyers to help them find and negotiate the purchase of a home. This agent works fo ...

What Is A Balloon Mortgage?

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 3 ...

When Should I Get Travel Insurance?

You should definitely consider getting travel insurance when doing or bringing any of the following ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. T ...

What Is A Wraparound Mortgage?

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How Does The Home Loan Underwriting Process Work? Tax Breaks for the First Time Home Buyer How to become a real estate agent How To Sell Your Home What is Earnest Money

FAQ

What are paid advertorials? What is a foreclosure? What is an escrow officer? What is a subdivision? What is an interest rate?