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
Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...
Total transfer of one's rights under a real estate contract to another. ...
Amount by which the appraised value of property exceeds the debt balance. If property has a fair market value of $ 250,000 while the mortgage balance is $110,000, the owner's equity in the ...
Rights granted to owners of property restricted to conservation use, historic preservation, or some other low density function to sell to other landowners allowing them to develop their ...
Expenditures pay by the owner of house to keep and maintain it including real estate taxes, interest on a mortgage, repairs and maintenance, and capital additions (e.g., new roof, new ...
Cubic unit of measure for a board one-foot long, one-foot wide and one inch thick, or 144 cubic inches. These measurements are not actual, since they are stated prior to finishing and ...
Prevalent type of property taxes assessed on real estate. It is usually collected by the local government and distributed among agencies to finance services. ...
How many days, months, or years are required before a new building has the desired occupancy ratio. The occupancy rate influences the amount financial institutions are willing to lend. ...
Reformation in real estate means a legal action to straighten out an erroneous deed, a misleading document, an error, a paragraph, or a contract entirely which resulted from an ...
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