Real Estate Glossary - The Ultimate Guide to Real Estate

by The Ultimate Guide to Real Estate

August 8, 2022

Disclosure: This website contains affiliate links which can provide compensation to us if you decide to purchase.

A

Appraisal - The process of evaluating a property's value by a licensed appraiser.
Amortization - Gradual repayment of a mortgage loan through scheduled installments.
Assessment - Determination of a property's value for taxation purposes.
Adjustable-Rate Mortgage (ARM) - A mortgage with an interest rate that changes periodically based on market rates.
Agency - The legal relationship between a real estate agent and their client.
As-Is - The condition of a property being sold without any repairs or modifications.
Absorption Rate - Calculation of the rate at which properties are sold or leased in a specific area and time frame.
Arbitration - The process of settling disputes between parties without going to court.
Amendment - Changes made to a contract.
Annual Percentage Rate (APR) - Reflects the true cost of borrowing by including interest rate and fees.
Assignment - The transfer of a contract or property rights to another party.
Abstract of Title - A summary of a property's ownership history.
Acceleration Clause - A provision in a loan that allows the lender to demand immediate repayment under certain conditions.
Appurtenance - A right or privilege that belongs to and passes with a property.
Addendum - An additional document attached to a contract to modify or clarify its terms.
Assumption - Taking over a seller's existing mortgage as part of the purchase transaction.
Amenity - A feature or benefit that enhances a property's value or attractiveness.
Assignment of Mortgage - The transfer of a mortgage from one lender to another.
Alienation Clause - A clause in a mortgage that allows the lender to demand full repayment if the property is sold.
Arm's Length Transaction - A transaction between unrelated parties with no conflicts of interest.
Adjustable Rate - A variable interest rate that changes over time.
Accrued Interest - Interest that has been earned but not yet paid or added to the principal.
Assessed Value - The value assigned to a property by a tax assessor for taxation purposes.
Affordability - The ability of a buyer to purchase a property within their financial means.
Agreement of Sale - A written contract outlining the terms of a property sale.
Annual Rent - The total rent paid by a tenant over one year.
Ad Valorem Tax - Property tax based on the assessed value of the property.
All-Inclusive Deed of Trust (AITD) - A financing arrangement that includes an existing mortgage and additional funds.
Architectural Review Board (ARB) - A committee that approves or disapproves architectural changes in a community.
Agent - A licensed professional representing buyers or sellers in real estate transactions.
Accelerated Depreciation - A method of reducing the value of a property for tax purposes more quickly than usual.
Arm's Length Price - The fair market value of a property, usually between unrelated parties.
Amenity Center - A community facility offering various recreational activities and services.
Affidavit of Title - A sworn statement confirming a property's legal ownership status.
Abandonment - The relinquishment of a property without transferring ownership to another party.
Adverse Possession - The acquisition of ownership rights to a property by continuous occupation and use without the owner's consent.
Agreement to Lease - A preliminary agreement outlining the terms of a future lease.
Absentee Landlord - A property owner who does not reside on or near the property they own.
Assignment of Lease - The transfer of lease rights from one tenant to another.
Affiliated Business Arrangement (ABA) - A business relationship between real estate professionals and service providers.
Assumable Mortgage - A mortgage that can be transferred to a new buyer.
Auction - A public sale where properties are sold to the highest bidder.
Accretion - The gradual increase of land due to natural forces like water depositing sediment.
Attornment - The acknowledgment by a tenant of a new landlord after the property's sale.
Attestation Clause - A clause in a written document verifying its authenticity.
Air Rights - The legal right to use the airspace above a property.
Average Daily Rate (ADR) - The average rental income generated per day from a property.
After-Repair Value (ARV) - The estimated value of a property after it has been renovated.
Appraised Value - The value of a property determined by a professional appraisal.
Agreement for Deed - A contract where the seller retains the title until the buyer fulfills the payment terms.
Assessment Ratio - The ratio of a property's assessed value to its market value used for tax purposes.
Additional Principal Payment - An extra payment toward the loan principal to reduce the mortgage term.
Abatement - A reduction or exemption from taxes or other financial obligations.
Amenity Fee - A charge for access to community amenities or services.
Area Median Income (AMI) - The median income of a specific geographic area used to determine eligibility for certain housing programs.
Assessed Improvement Value - The value of improvements made to a property as determined by a tax assessor.
Assemblage - The combination of multiple adjacent properties to create a larger parcel.
Affordable Housing - Housing options that are affordable for low to moderate-income individuals and families.
Assignment of Rents - The transfer of rental income rights from a property owner to another party.
Active Income - Income generated from active participation in real estate activities, such as rental income.
Annual Debt Service - The total amount of principal and interest paid on a mortgage in a year.
Amenity Zoning - Zoning that designates specific areas for public amenities and recreational purposes.
Alienation Clause - A clause in a lease that restricts the transfer of the tenant's lease rights.
As-Is Condition - The condition of a property sold without any warranties or guarantees for its condition.
Annual Property Operating Data (APOD) - A financial analysis of a property's potential income and expenses.
Adverse Action - A denial of credit or other unfavorable action based on a credit report or application.
Active Adult Community - A residential community designed for older adults, typically with age restrictions.
Actual Cash Value (ACV) - The current value of a property, taking into account depreciation.
Assignment of Mortgage - The transfer of a mortgage from one lender to another.
Amenity Contribution - A fee paid by property developers to contribute to public amenities and services.
Agreement of Sale - A legal contract outlining the terms and conditions of a property sale.
ARM Index - The benchmark interest rate used to determine adjustments in an adjustable-rate mortgage.
Alienation - The transfer of property ownership from one party to another.
Accrued Depreciation - The reduction in a property's value due to wear, tear, and obsolescence.
Appraisal Fee - The charge for a professional appraisal to determine a property's value.
Allowance - An agreed-upon amount allocated for specific improvements or repairs in a property.
Active Income - Income generated from actively participating in real estate activities, such as rental income.
Annual Percentage Yield (APY) - The effective annual rate of return, including compound interest, on an investment.
Agreement to Lease - A preliminary agreement outlining the terms of a future lease.
Assessment Ratio - The ratio used to calculate property taxes, typically based on the property's assessed value.
Apartment Building - A building containing multiple residential units for rent.
Assumption Clause - A clause in a mortgage allowing a new buyer to assume responsibility for the loan.
Attractive Nuisance - A dangerous condition on a property that may attract children and pose a risk.
Abatement Cost - The expenses associated with remedying environmental hazards on a property.
Agency Disclosure - The requirement for real estate agents to disclose their representation status to clients.
Assessor - A government official responsible for determining property values for taxation purposes.
All-Cash Deal - A real estate transaction where the buyer pays the full purchase price in cash without financing.
Amenity Space - Common areas within a building or community used for residents' enjoyment.
Annual Turnover - The rate at which rental units in a property change tenants in a year.
Air Space - The three-dimensional area above a property, including air rights.
Adjoining Property - A property that shares a boundary with another property.
Annual Percentage Rate (APR) - The annual cost of borrowing, including interest and fees.
Agreement of Purchase and Sale - A contract outlining the terms of a property purchase.
As-Is Where-Is - The condition of a property being sold without any warranties or guarantees.
Annualized Return - The rate of return on an investment over a specific period, extrapolated to a full year.
Absentee Owner - A property owner who does not reside on the property they own.
Actual Damages - The real, quantifiable financial losses incurred in a legal dispute.
Affidavit - A written statement made under oath, typically used as evidence in legal matters.
Appraised Equity - The difference between a property's appraised value and the outstanding mortgage balance.
Arm's Length Transaction - A transaction between unrelated parties with no personal relationship or conflicts of interest.

B

Balloon Mortgage - A mortgage with small monthly payments and a large lump-sum payment due at the end.
Buyer's Agent - A real estate agent representing the buyer in a transaction.
Building Code - Local regulations that dictate construction standards and safety requirements for buildings.
Broker - A licensed real estate professional who facilitates transactions between buyers and sellers.
Bridge Loan - A short-term loan used to bridge the gap between the purchase of a new property and the sale of an existing one.
Building Permit - Authorization from the local government to begin construction or renovation on a property.
Basement - The lower level of a building or house, partially or entirely below ground level.
Backup Offer - An offer placed on a property when the primary offer is uncertain or falls through.
Building Inspector - A professional who assesses and ensures that buildings meet construction codes and regulations.
Buyer's Market - A market condition that favors buyers, with more properties available than buyers.
Building Area - The total floor space of a building, including all levels.
Building Line - A boundary that defines the permitted distance a building can be constructed from the property's edge.
Bank-Owned Property - A property that the bank acquired through foreclosure and now owns.
Buyer's Remorse - The feeling of regret or uncertainty after making a purchase, including real estate.
Bridge Financing - Another term for a bridge loan, used to finance the purchase of a new property before selling an existing one.
Building Envelope - The outer shell of a building that separates the interior from the exterior environment.
Balloon Payment - The final lump-sum payment due at the end of a balloon mortgage.
Building Insurance - Insurance coverage that protects a property against physical damage or loss.
Buyer Representation Agreement - A contract that formalizes the relationship between a buyer and their agent.
Building Code Violation - A breach of local construction regulations on a property.
Breach of Contract - Failure to fulfill the terms of a legally binding agreement.
Built-Up Area - The total developed area of a property, including buildings and other structures.
Buyer's Market Analysis - A study of market conditions to help buyers make informed decisions.
Backfill - Soil used to fill in a space created by excavation during construction.
Buyer's Premium - An additional fee paid by the buyer in certain auctions or real estate transactions.
Balustrade - A railing system, typically along staircases or balconies, for safety and decoration.
Bulk Sale - The sale of multiple properties or assets in a single transaction.
Building Management - The administration and maintenance of a property by a management company or owner.
Building Permit Fee - The cost associated with obtaining a building permit.
Bank Appraisal - An appraisal conducted by a bank or financial institution to determine a property's value.
Baseboard - A decorative trim installed along the bottom of walls to cover the joint between the wall and the floor.
Building Society - A financial institution that provides mortgages and other financial services related to property.
Broker Price Opinion (BPO) - An estimate of a property's value provided by a real estate broker or agent.
Biweekly Mortgage - A mortgage payment plan with payments made every two weeks instead of monthly.
Buyer's Walk-Through - A final inspection by the buyer before closing to ensure the property is in agreed-upon condition.
Building Services - The utilities and amenities available in a building, such as water, electricity, and heating.
Buyer Agency - A relationship in which a real estate agent represents the buyer's interests exclusively.
Basement Apartment - A living space located in the basement of a house, often rented out separately.
Building Line Restrictions - Limitations on how close a building can be constructed to the property line.
Building Permit Bond - A type of insurance that protects against financial losses due to construction violations or errors.
Balloon Note - A written agreement outlining the terms of a balloon mortgage.
Building Regulations - Local rules and standards governing construction and property development.
Backup Contract - A secondary contract that takes effect if the primary contract fails.
Building Inspector's Certificate - A document indicating a property meets local building codes and standards.
Bulk Transfer - The sale of multiple properties as part of a single transaction.
Bankruptcy Sale - The sale of a property as part of a bankruptcy proceeding.
Below-Grade - The portion of a building below ground level.
Building-to-Land Ratio - The proportion of building area to land area on a property.
Building Occupancy - The use or occupancy of a building as defined by local zoning laws.
Buydown - An upfront payment by a borrower to lower the interest rate on a mortgage temporarily.
Buyer's Market Condition - A real estate market with more properties available than buyers.
Building Services Engineer - A professional who designs and oversees the installation of building systems.
Building Height Limitation - The maximum allowed height of a building on a property.
Bill of Sale - A document confirming the transfer of personal property ownership from one party to another.
Building Management System (BMS) - An automated system controlling and monitoring building utilities and systems.
Building Efficiency Ratio - The ratio of a building's usable area to its total area.
Binding Contract - A legally enforceable agreement between parties.
Building Incentive - A financial or regulatory benefit provided to encourage specific types of construction.
Building Condition Assessment - An evaluation of a property's physical condition, often before purchase.
Backup Offer - A secondary offer submitted on a property if the primary offer falls through.
Building Permit Process - The procedure for obtaining a building permit from local authorities.
Buyer's Market Analysis (BMA) - An assessment of market conditions to assist buyers in decision-making.
Building Line Setback - The required distance a building must be set back from the property line.
Building Overhang - A part of the building structure extending beyond the main walls.
Balloon Payment Mortgage - A mortgage requiring a large lump-sum payment at the end of the term.
Building Survey - An inspection to assess a property's condition before purchase.
Building Design - The architectural and engineering planning of a building's structure.
Building Permit Revocation - The cancellation of a building permit due to non-compliance.
Balloon Note Mortgage - A loan with regular payments and a large final payment (balloon payment) at the end.
Building Inspector Certificate - A document confirming a property meets local building standards.
Building to Land Ratio - The proportion of building area to total land area on a property.
Building Coverage Ratio - The percentage of a property's total area occupied by buildings.
Building and Land Technology (BLT) - A real estate development and investment firm.
Building Rentable Area - The total floor area available for lease to tenants.
Building Performance - The energy efficiency and environmental impact of a building.
Building Floor Plan - A detailed layout of a building's interior spaces.
Building Envelope Commissioning - The inspection and testing of a building's exterior enclosure for efficiency and performance.
Building Restrictions - Limitations imposed on property use or development by local regulations.
Building Maintenance - The ongoing upkeep and repairs of a property.
Building Settlement - The process of a building's foundation gradually sinking into the soil.
Building Value - The worth of a property's structures, separate from the land value.
Building Class - A categorization of buildings based on quality, age, and amenities.
Building Code Compliance - Adherence to local construction regulations and safety standards.
Building Control Officer - An official responsible for ensuring buildings comply with construction codes.
Building Service Charge - A fee paid by tenants for shared building services and maintenance.
Building Consent - Approval granted by authorities to begin construction or renovation.
Building Area Measurement - The calculation of a building's floor area for valuation or lease purposes.
Building Code Violation Notice - A formal notification of non-compliance with construction regulations.
Building Preservation - The maintenance and restoration of historical or significant buildings.
Building Overrun - Additional construction costs beyond the original budget.
Building Setback Requirements - The minimum distance a building must be set back from the property boundary.
Building Lot - A parcel of land designated for building a structure.
Building Massing - The overall form and shape of a building.
Building Automation System (BAS) - An integrated system controlling a building's environmental and security systems.
Building Code Inspector - An official responsible for enforcing building codes and regulations.
Building Line Easement - A legal right granted to a neighboring property regarding building proximity.
Building Class A - A high-quality, well-maintained building with modern amenities.
Building Renovation - Improvements or modifications made to an existing building.
Building Interior Design - The planning and arrangement of a building's interior spaces.
Building Line Variance - Permission granted by local authorities to construct a building closer to the property boundary than allowed by zoning regulations.

C

Capitalization Rate (Cap Rate) - The rate of return on an investment property based on its net operating income and value.
Closing Costs - Fees and expenses associated with the finalization of a real estate transaction.
Condominium (Condo) - A type of property ownership where individuals own their units and share common areas.
Contingency - A condition that must be met for a contract to be binding.
Commission - The fee paid to real estate agents for their services in a transaction.
Curb Appeal - The attractiveness of a property's exterior when viewed from the street.
Certificate of Occupancy (CO) - A document issued by local authorities indicating a property complies with building codes and is safe for occupancy.
Comparable Sales (Comps) - Recently sold properties used to determine a property's market value.
Conveyance - The transfer of property ownership from one party to another.
Contract - A legally binding agreement between two or more parties outlining the terms of a real estate transaction.
Cash Flow - The net income generated by a property after deducting expenses and mortgage payments.
Capital Gains - Profits earned from the sale of a property or investment.
Conventional Mortgage - A mortgage loan not insured or guaranteed by a government agency.
Closing Disclosure (CD) - A document provided to buyers before closing, outlining final loan terms and costs.
Cash-Out Refinance - A refinancing option where the borrower receives cash in excess of the mortgage balance.
Contingent Offer - An offer to purchase a property that depends on certain conditions being met.
Counteroffer - A response to an original offer, proposing different terms for negotiation.
Credit Score - A numerical representation of a borrower's creditworthiness, influencing loan approval and interest rates.
Collateral - An asset offered as security for a loan.
Co-op (Cooperative) - A type of housing where residents own shares in a corporation that owns the property.
Closing Statement - A detailed breakdown of financial transactions at the closing of a real estate deal.
Capital Improvement - A permanent improvement to a property that increases its value.
Conforming Loan - A mortgage that meets specific guidelines set by Fannie Mae and Freddie Mac.
Contingent Release - A clause that allows a buyer or seller to cancel a contract under certain conditions.
Conveyancing - The legal process of transferring property ownership from one party to another.
Counter-Cyclical Investment - An investment strategy that involves buying during market downturns.
Cooperative Apartment (Co-op) - A residential building where residents own shares in the corporation that owns the property.
Closing - The final step in a real estate transaction where ownership is transferred, and funds are exchanged.
Contract for Deed - A contract where the seller finances the buyer directly.
Capital Expenditure (CapEx) - The cost of major improvements to a property that adds value or extends its useful life.
Commercial Property - Real estate used for business or income-generating purposes.
Contour Line - A line on a topographic map connecting points of the same elevation.
Common Area Maintenance (CAM) - Fees paid by tenants to cover maintenance costs of shared areas in commercial properties.
Chain of Title - A history of property ownership, documenting transfers from one owner to the next.
Cooperative Housing - A housing arrangement where residents collectively own and manage the property.
Contingency Clause - A provision in a contract that specifies certain conditions that must be met for the contract to be valid.
Certificate of Title - A document showing the current ownership and legal status of a property.
Cash Flow Analysis - The evaluation of a property's income and expenses to determine its profitability.
Capitalization - The process of converting future income into present value for valuation purposes.
Clear Title - A property title free from liens or legal disputes.
Condemnation - The legal process of seizing private property for public use, with fair compensation to the owner.
Co-Borrower - A person who shares equal responsibility for repaying a loan.
Conforming Loan Limit - The maximum loan amount eligible for purchase by Fannie Mae and Freddie Mac.
Closing Date - The agreed-upon date for the finalization of a real estate transaction.
Condemned Property - A property deemed unsafe or unfit for occupancy by local authorities.
Contingent Release Clause - A provision that allows a party to cancel a contract under specific conditions.
Closing Agent - A neutral third party responsible for facilitating the closing process and ensuring all legal requirements are met.
Contiguous - Properties that share a common boundary or are adjacent to each other.
Common Elements - Shared areas in a condominium or cooperative building, such as hallways and elevators.
Chattel Mortgage - A loan secured by personal property rather than real estate.
Certificate of Reasonable Value (CRV) - A document indicating the appraised value of a property for VA loan purposes.
Cross-Collateralization - Using multiple properties as collateral for a single loan.
Consumer Price Index (CPI) - A measure of inflation that tracks changes in the cost of living over time.
Certificate of Authority - A document authorizing an entity to conduct business or act on behalf of another.
Condominium Association - A governing body responsible for managing and maintaining a condominium complex.
Credit Report - A detailed record of an individual's credit history, used by lenders to assess creditworthiness.
Contiguous Parcels - Adjacent pieces of land with a common boundary.
Community Land Trust - A nonprofit organization that owns and manages land for the benefit of the community.
Capital Stack - The combination of different sources of funding used to finance a real estate project.
Corner Lot - A property located at the intersection of two streets.
Credit Repair - The process of improving one's credit score by addressing negative credit history.
Comparable Market Analysis (CMA) - An assessment of a property's value based on recent sales of similar properties.
Contract Vendee - A buyer who has agreed to purchase a property on contract.
Corner Influence - The effect a corner lot has on a property's value due to increased visibility and accessibility.
Cooperative Corporation - The legal entity responsible for owning and managing a cooperative building.
Closing Statement - A detailed breakdown of financial transactions at the closing of a real estate deal.
Contract for Deed - A contract where the seller finances the buyer directly.
Capital Expenditure (CapEx) - The cost of major improvements to a property that adds value or extends its useful life.
Commercial Property - Real estate used for business or income-generating purposes.
Contour Line - A line on a topographic map connecting points of the same elevation.
Common Area Maintenance (CAM) - Fees paid by tenants to cover maintenance costs of shared areas in commercial properties.
Chain of Title - A history of property ownership, documenting transfers from one owner to the next.
Cooperative Housing - A housing arrangement where residents collectively own and manage the property.
Contingency Clause - A provision in a contract that specifies certain conditions that must be met for the contract to be valid.
Certificate of Title - A document showing the current ownership and legal status of a property.
Cash Flow Analysis - The evaluation of a property's income and expenses to determine its profitability.
Capitalization - The process of converting future income into present value for valuation purposes.
Clear Title - A property title free from liens or legal disputes.
Condemnation - The legal process of seizing private property for public use, with fair compensation to the owner.
Co-Borrower - A person who shares equal responsibility for repaying a loan.
Conforming Loan Limit - The maximum loan amount eligible for purchase by Fannie Mae and Freddie Mac.
Closing Date - The agreed-upon date for the finalization of a real estate transaction.
Condemned Property - A property deemed unsafe or unfit for occupancy by local authorities.
Contingent Release Clause - A provision that allows a party to cancel a contract under specific conditions.
Closing Agent - A neutral third party responsible for facilitating the closing process and ensuring all legal requirements are met.
Contiguous - Properties that share a common boundary or are adjacent to each other.
Common Elements - Shared areas in a condominium or cooperative building, such as hallways and elevators.
Chattel Mortgage - A loan secured by personal property rather than real estate.
Certificate of Reasonable Value (CRV) - A document indicating the appraised value of a property for VA loan purposes.
Cross-Collateralization - Using multiple properties as collateral for a single loan.
Consumer Price Index (CPI) - A measure of inflation that tracks changes in the cost of living over time.
Certificate of Authority - A document authorizing an entity to conduct business or act on behalf of another.
Condominium Association - A governing body responsible for managing and maintaining a condominium complex.
Credit Report - A detailed record of an individual's credit history, used by lenders to assess creditworthiness.
Contiguous Parcels - Adjacent pieces of land with a common boundary.
Community Land Trust - A nonprofit organization that owns and manages land for the benefit of the community.
Capital Stack - The combination of different sources of funding used to finance a real estate project.
Corner Lot - A property located at the intersection of two streets.
Credit Repair - The process of improving one's credit score by addressing negative credit history.
Comparable Market Analysis (CMA) - An assessment of a property's value based on recent sales of similar properties.

D

Deed - A legal document that transfers property ownership from one party to another.
Down Payment - The initial payment made by a buyer towards the purchase price of a property.
Dual Agency - When a real estate agent represents both the buyer and the seller in a transaction.
Due Diligence - The process of conducting research and investigation to assess a property's condition and legal status.
Duplex - A building with two separate living units, often side by side or one above the other.
Depreciation - A decrease in a property's value over time due to wear and tear or market factors.
Development - The process of constructing new buildings or improving land for residential or commercial purposes.
Debt-to-Income Ratio (DTI) - A financial measure used by lenders to assess a borrower's ability to repay a loan.
Deferred Maintenance - Necessary repairs and upkeep that have been postponed on a property.
Disclosure - The legal requirement for sellers and agents to reveal known property defects or issues.
Dual-Tracking - When a lender continues foreclosure proceedings while reviewing a borrower's loan modification request.
Delinquency - Failure to make mortgage payments on time.
Dower - The legal right of a spouse to claim a share of a deceased spouse's property.
Development Rights - The permissions and restrictions on the use of a property during its development.
Debt Service - The regular payment of principal and interest on a loan.
Default - The failure to fulfill the terms of a contract or loan agreement.
Downzoning - The change of a property's zoning to a more restrictive classification.
Demographics - Statistical data on the population, such as age, income, and education levels, used to analyze real estate markets.
Due-on-Sale Clause - A provision in a mortgage that requires full repayment if the property is sold.
Dual Index Mortgage - A mortgage with an adjustable interest rate based on two different indices.
Deposition - A recorded interview or testimony of a witness in a legal proceeding.
Downward Adjustment - A reduction in the price of a property or value estimate.
Deed of Trust - A legal document used in some states instead of a mortgage to secure a loan.
Discount Points - Upfront fees paid to lower the interest rate on a mortgage loan.
Development Impact Fee - A charge imposed on new construction to fund public infrastructure.
Dwelling - A place of residence, such as a house or apartment.
Discounted Cash Flow (DCF) - A financial analysis method used to determine the present value of future income.
Dual-Flush Toilet - A toilet with two flushing options for different water flow rates.
Dual Variable Rate Mortgage - A mortgage with two separate interest rates based on different conditions.
Dwelling Coverage - Insurance that protects the physical structure of a property.
Deed in Lieu of Foreclosure - Transferring ownership of a property to the lender to avoid foreclosure.
Downzoning - Changing a property's zoning classification to a more restrictive designation.
Deed of Release - A document confirming the discharge of a lien or mortgage on a property.
Due Process - Legal procedures that protect an individual's rights in court.
Direct Costs - Expenses directly related to a construction project, such as labor and materials.
Deed Restriction - A limitation or condition placed on the use of a property by its owner.
Down Payment Assistance - Financial aid provided to buyers to cover a portion of the down payment.
Density - The number of residential units or occupants per unit of land area.
Deed of Trust - A legal document used in some states to secure a loan with real estate.
Default Notice - A formal notice sent to a borrower when they fail to make mortgage payments on time.
Deed of Reconveyance - A document issued by a lender releasing their claim on a property once a loan is repaid.
Dual-Tracking - Simultaneously pursuing foreclosure while reviewing a borrower's loan modification request.
Duplex - A building with two separate residential units.
Demolition - The act of tearing down a building or structure.
Deposit - A sum of money paid by a buyer to demonstrate their intent to purchase a property.
Depreciation - A decrease in a property's value over time due to age, wear, and obsolescence.
Discount Point - An upfront fee paid to lower the interest rate on a mortgage.
Dry Closing - A real estate closing where funds and documents are exchanged without physically meeting.
Debt Consolidation - Combining multiple debts into one loan with a single monthly payment.
Disclosure Form - A document outlining important information about a property or transaction.
Due Diligence Period - A specific timeframe during which a buyer investigates a property before finalizing the purchase.
Deed of Gift - A legal document transferring ownership of a property as a gift.
Dual Agency - A situation where a real estate agent represents both the buyer and the seller in a transaction.
Development Agreement - A contract outlining the terms of a property development project.
Design-Build - A construction method where one entity is responsible for both design and construction.
Deposit Receipt - A written acknowledgment of a buyer's earnest money deposit.
Development Rights - The permissions granted to a property owner regarding land development.
Divestment - The process of selling or liquidating assets, including real estate.
Down Payment Assistance Program - A program providing financial aid to help buyers with their down payment.
Deed of Conveyance - A document transferring ownership of a property from a seller to a buyer.
Dwelling Coverage - Insurance that protects the structure of a property from damage or loss.
Distressed Property - A property facing financial difficulties, such as foreclosure or short sale.
Deed in Lieu - A voluntary transfer of property ownership to the lender to avoid foreclosure.
Ductwork - A system of ducts used to distribute heating, ventilation, and air conditioning throughout a building.
Discount - The difference between a property's market value and its selling price.
Disclosure Statement - A document providing information about a property's condition or history.
Due-On-Sale Clause - A provision in a mortgage that allows the lender to demand full repayment if the property is sold.
Development Feasibility Study - An assessment of the viability of a real estate development project.
Development Rights Transfer - The process of transferring development rights from one property to another.
Dual Variable Rate Mortgage - A mortgage with two different interest rates based on specific conditions.
Dual Tracking - When a lender simultaneously proceeds with foreclosure and considers a borrower's loan modification request.
Deferred Maintenance - Delayed repairs and upkeep on a property.
Demand Letter - A written request for payment or action, usually in response to a breach of contract or non-payment.
Deed of Trust - A legal document used in some states to secure a loan with real estate as collateral.
Debt Service Coverage Ratio (DSCR) - A financial metric used to assess a property's ability to cover its debt obligations.
Development Cost - The expenses incurred in constructing or improving a property.
Direct Costs - Expenses directly related to the construction or improvement of a property.
Dual Agency - A situation where a real estate agent represents both the buyer and the seller in a transaction.
Dual Variable Rate Mortgage - A mortgage with two different interest rates based on specific conditions.
Downzoning - The process of changing a property's zoning classification to a more restrictive designation.
Deed in Lieu of Foreclosure - A legal agreement in which a borrower voluntarily transfers property ownership to the lender to avoid foreclosure.
Debt-to-Income Ratio (DTI) - A financial metric used by lenders to assess a borrower's ability to manage debt and make mortgage payments.
Depreciation - A decrease in the value of a property over time due to factors such as wear and tear, obsolescence, and economic conditions.
Dual Tracking - A situation where a mortgage servicer continues foreclosure proceedings while simultaneously reviewing a borrower's request for loan modification.
Density - The number of residential units or occupants allowed per unit of land area, often regulated by local zoning laws.
Deed of Trust - A legal document used in some states to secure a loan with real estate as collateral, involving three parties: the borrower, the lender, and a trustee.
Down Payment - The initial payment made by a buyer towards the purchase price of a property, typically expressed as a percentage of the total price.
Due Diligence - The process of conducting thorough research and investigation on a property to assess its condition, potential risks, and legal status before finalizing a transaction.
Discount Point - An upfront fee paid by a borrower to a lender to lower the interest rate on a mortgage loan, each point typically equals 1% of the loan amount.
Development Rights - The permissions and entitlements granted to a property owner for land development, often involving zoning, building permits, and land use regulations.
Direct Costs - Expenses directly related to the construction or improvement of a property, including labor, materials, and contractor fees.
Demographics - Statistical data and characteristics of a population, including age, income, education, and household size, used to analyze real estate markets and trends.
Dual Variable Rate Mortgage - A mortgage with two different interest rates, typically based on different conditions or financial market indices.
Deed in Lieu - A legal agreement where a borrower voluntarily transfers ownership of a property to the lender to avoid foreclosure and satisfy the debt.
Development Agreement - A contract between a property owner and a developer outlining the terms and conditions of a real estate development project.
Duplex - A building or property with two separate living units or residences, often side-by-side or one above the other.
Ductwork - A system of ducts and pipes used to distribute heating, ventilation, and air conditioning throughout a building.
Demand Letter - A formal written request or demand for payment or action, often used in legal or collection matters.
Down Payment Assistance Program - A program providing financial aid or grants to help buyers with their down payment, especially for first-time homebuyers or low-income individuals.
Dwelling Coverage - Insurance that protects the structure of a property, covering repair or rebuilding costs in case of damage or loss.

E

Easement - The right to use or access someone else's property for a specific purpose.
Equity - The difference between the property's value and the outstanding mortgage amount.
Escrow - Funds or documents held by a neutral third party until the completion of a transaction.
Earnest Money - A deposit made by a buyer to show their commitment to the purchase.
Executor - A person appointed to carry out the instructions of a will or estate.
Estoppel Certificate - A document confirming the status of a lease or other agreements.
Exclusive Listing - A contract granting a specific agent the sole right to sell a property.
Encroachment - A building or structure that extends onto a neighboring property.
Environmental Impact Statement (EIS) - A report assessing the potential environmental effects of a development project.
Eviction - The legal process of removing a tenant from a rental property.
Escrow Account - An account where funds are held for the payment of property-related expenses.
Eminent Domain - The government's right to seize private property for public use with fair compensation.
Executor's Deed - A deed executed by an executor to transfer a deceased person's property.
Exclusive Agency Listing - A contract where only one agent has the right to sell a property, but the owner can still sell it privately without paying a commission.
Encumbrance - A claim or liability on a property, such as a lien or mortgage.
Equity Loan - A loan that uses a property's equity as collateral.
Equity Stripping - The practice of taking out excessive loans against a property's equity.
Elevation Certificate - A document showing a property's elevation and flood risk.
Encapsulated Asbestos - Asbestos material sealed to prevent the release of fibers.
Estoppel Letter - A statement confirming the financial status of a property, often used in condo sales.
Earnest Money Deposit - A sum of money paid by a buyer to show commitment to the purchase.
Escrow Agreement - A contract specifying how escrow funds will be held and disbursed.
Exclusive Right to Sell - A listing agreement giving one agent the exclusive right to sell a property.
Egress - A way to exit a property, often referring to emergency exits.
Equity Stripping - The practice of taking out excessive loans against a property's equity.
Elevation Certificate - A document showing a property's elevation and flood risk.
Encapsulated Asbestos - Asbestos material sealed to prevent the release of fibers.
Estoppel Letter - A statement confirming the financial status of a property, often used in condo sales.
Earnest Money Deposit - A sum of money paid by a buyer to show commitment to the purchase.
Escrow Agreement - A contract specifying how escrow funds will be held and disbursed.
Exclusive Right to Sell - A listing agreement giving one agent the exclusive right to sell a property.
Egress - A way to exit a property, often referring to emergency exits.
Equity Loan - A loan that uses a property's equity as collateral.
Escrow Account - An account where funds are held for the payment of property-related expenses.
Exclusive Buyer's Agent - A real estate agent who exclusively represents the buyer's interests.
Eminent Domain - The government's right to take private property for public use with fair compensation.
Encumbrance - A claim, lien, or restriction on a property that may affect its value or use.
Environmental Site Assessment (ESA) - An evaluation of a property's environmental condition and potential contamination risks.
Escrow Closing - The process of completing a real estate transaction through an escrow account.
Exclusive Agency Listing - A listing agreement where the seller can sell the property independently without paying a commission, but the listing agent still receives a commission if they find a buyer.
Equity Build-Up - The increase in a property's equity over time, typically through mortgage payments and appreciation.
Earnest Money Deposit - A sum of money paid by a buyer to demonstrate their serious intention to purchase a property.
Enclosed Porch - A covered porch that is fully enclosed and considered part of the interior living space.
Executor - A person appointed to manage the affairs and assets of a deceased person's estate.
Easement - The right to use or access someone else's property for a specific purpose, such as a shared driveway.
Exclusive Listing - A listing agreement that grants one real estate agent the exclusive right to sell a property for a specified period.
Earnest Money - A deposit made by a buyer to show their serious intent to purchase a property, often held in escrow.
Egress - An exit or way out of a building, typically referring to fire exits.
Escrow - Funds or documents held by a neutral third party until the completion of a transaction, such as a home purchase.
Encroachment - A situation where a building or structure extends beyond its legal property boundaries onto neighboring land.
Equity - The difference between the current market value of a property and the outstanding mortgage balance.
Exclusive Buyer's Agent - A real estate agent who represents only the buyer's interests in a transaction.
Environmental Impact Statement (EIS) - A report that evaluates the potential environmental effects of a proposed development or project.
Executor's Deed - A legal document executed by an executor of a deceased person's estate to transfer property to the designated heirs or beneficiaries.
Escrow Agreement - A contract that outlines the terms and conditions for holding funds in an escrow account during a real estate transaction.
Eviction - The legal process of removing a tenant from a rental property for breach of lease terms or non-payment of rent.
Equity Loan - A loan that allows homeowners to borrow against the equity in their property, using it as collateral.
Earnest Money Deposit - A monetary deposit made by a buyer as a show of good faith and commitment to a real estate transaction.
Encumbrance - A claim or liability on a property, such as a mortgage, lien, or easement, that may affect its title or value.
Environmental Site Assessment (ESA) - An evaluation of a property's environmental condition and potential hazards, commonly conducted before real estate transactions.
Exclusionary Zoning - Zoning regulations that prohibit certain types of land use, often intended to preserve specific neighborhoods or protect property values.
Escalation Clause - A clause in a lease or contract that allows for rent or prices to increase over time, usually tied to inflation or specific conditions.
Equal Credit Opportunity Act (ECOA) - A federal law prohibiting discrimination in lending and credit based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.
Exclusive Use - The sole right of a tenant or owner to use a specific area or facility within a property, such as a parking space or storage unit.
Enclosed Porch - A covered area attached to a building and typically surrounded by walls and windows, serving as an additional living space.
Equity Stripping - The practice of taking out multiple loans against a property's equity, often leaving little equity remaining and increasing the risk of foreclosure.
Escrow Agent - A neutral third party, often an attorney or title company, responsible for holding and disbursing funds in an escrow account during a real estate transaction.
Exclusive Agency Listing - A listing agreement where the seller agrees to work exclusively with one real estate agent to market and sell the property, but retains the right to sell the property themselves without paying a commission.
Effective Gross Income (EGI) - The total income generated by a property before accounting for vacancies and operating expenses.
Earnest Money Agreement - A contract between a buyer and seller that outlines the terms of a real estate transaction, including the amount and conditions of the earnest money deposit.
Encroachment - An unauthorized intrusion of a structure or improvement from one property onto another, often leading to boundary disputes between neighbors.
Environmental Protection Agency (EPA) - A federal agency responsible for enforcing environmental regulations and protecting human health and the environment.
Equity Share - A type of ownership arrangement in which investors provide capital in exchange for a share of the property's equity and potential profits.
Estate - The total assets and liabilities left behind by a deceased person, including real estate, personal property, and debts.
Eminent Domain - The government's right to take private property for public use with fair compensation to the property owner.
Exclusive Use Common Area - A designated area within a condominium or community property that only a specific owner has the right to use.
Equity Participation - An investment arrangement in which one party provides capital for a project in exchange for a share of the property's equity or profits.
Enclosed Balcony - A covered balcony or patio that has been enclosed with windows or walls to create an additional indoor space.
Environmental Hazard - Any substance, condition, or factor that poses a risk to human health or the environment, such as toxic chemicals or mold.
Economic Depreciation - A decrease in a property's value due to external factors such as changes in the surrounding neighborhood or economic conditions.
Exclusive Use Area - A defined space within a property or common area that only a specific owner or tenant has the right to use, often designated in a condominium complex or commercial development.
Easement by Necessity - A legal right of access to a property granted to an adjoining property owner for essential services or transportation purposes.
Equity Line of Credit - A revolving line of credit secured by a property's equity, allowing homeowners to borrow funds as needed up to a certain limit.
Encroachment Agreement - A legal document that formalizes an encroachment, outlining the rights and responsibilities of the affected parties.
Essential Services - Basic utilities and services necessary for the operation and habitability of a property, such as water, electricity, and waste management.
Equity Stripping - A strategy used by some homeowners facing foreclosure to remove equity from their property before losing it to creditors.
Eminent Domain - The legal right of the government or other authorized entity to take private property for public use, with fair compensation to the owner.
Earnest Money - A deposit made by the buyer to demonstrate their serious intent to purchase a property and secure the offer.
Equity - The value of a property over and above any outstanding mortgages or liens on the property.
Escrow - Funds or assets held by a neutral third party until the completion of a real estate transaction.
Exclusive Agency Listing - A contractual agreement between a seller and a real estate agent where the agent is granted the exclusive right to market and sell the property for a specific period, but the seller retains the right to sell the property independently without paying a commission.
Eviction - The legal process of removing a tenant from a rental property due to breach of lease terms, non-payment of rent, or other violations.
Estate - The total assets, property, and liabilities left behind by a deceased person.
Encumbrance - A claim or lien on a property that may affect its title or value, such as a mortgage or easement.
Environmental Site Assessment (ESA) - An evaluation of a property's environmental condition and potential hazards, often conducted before property transactions.
Egress - A means of exiting a building, often referring to emergency exits.
Effective Gross Income (EGI) - The total income generated by a rental property after accounting for vacancy and collection losses.
Executor - A person appointed to carry out the instructions of a will and manage the estate of a deceased person.
Environmental Protection Agency (EPA) - A federal agency responsible for enforcing environmental laws and regulations to protect human health and the environment.
Exclusive Right to Sell Listing - A listing agreement that grants one real estate agent the exclusive right to sell a property, entitling the agent to a commission regardless of who sells the property during the listing period.

F

Fair Market Value (FMV) - The estimated price a property would fetch in the open market under normal conditions.
Farmhouse - A residential dwelling located on a farm or rural property.
Fee Simple - Absolute ownership of a property without any limitations or restrictions.
Federal Housing Administration (FHA) - A government agency that insures mortgages and promotes homeownership.
Fiduciary - A person or entity entrusted to act in the best interest of another party, often seen in real estate transactions.
Fixer-Upper - A property in need of significant renovation or repair.
Fixture - An item permanently attached to a property, becoming part of it, and not removable.
Flat - A self-contained residential unit within a larger building.
Flipping - Buying a property with the intention of renovating and selling it quickly for a profit.
Flood Insurance - Insurance coverage that protects against damages caused by flooding.
Forbearance - A temporary postponement of mortgage payments granted by the lender.
Foreclosure - Legal process through which a lender repossesses a property due to default on loan payments.
Foundation - The base of a building that supports the entire structure.
Fourplex - A building containing four separate residential units.
Freddie Mac (Federal Home Loan Mortgage Corporation) - A government-sponsored enterprise that buys and sells mortgages.
FSBO (For Sale By Owner) - A property being sold directly by the owner without a real estate agent's involvement.
Full Bathroom - A bathroom with a toilet, sink, and shower or bathtub.
Functional Obsolescence - A property's loss in value due to outdated features or design flaws.
Furniture Package - A set of furniture items sold as part of a property purchase.
Future Advance - A clause in a mortgage allowing additional borrowing beyond the initial loan amount.
Fair Credit Reporting Act (FCRA) - A federal law governing how consumer credit information is collected and used.
Fair Housing Act - A federal law prohibiting housing discrimination based on race, color, religion, sex, national origin, disability, or familial status.
Fair Housing Amendments Act (FHAA) - An amendment to the Fair Housing Act, which extends protection to include disability and familial status.
Family Room - A casual living space in a home, often adjacent to the kitchen.
FAR (Floor Area Ratio) - A zoning regulation determining the allowable building size relative to the lot size.
Federal Reserve System - The central banking system of the United States.
Fee - A payment for services or access to a property, such as a membership fee for a homeowner's association.
Fire Insurance - Insurance coverage protecting against fire-related property damage.
First Mortgage - The primary loan on a property that takes priority in case of default.
Fixtures and Chattels - Items included or excluded in a property sale, with fixtures being permanent and chattels being movable.
Fixed-Rate Mortgage - A mortgage with a constant interest rate throughout the loan term.
Flipped Property - A property that has been bought, renovated, and quickly sold for profit.
Floating Rate - An interest rate that varies based on market conditions.
Flood Zone - An area identified as at risk of flooding, often determining insurance requirements.
Floor Plan - A diagram showing the layout of a property from a top-down perspective.
Fluctuation - The rise and fall of real estate prices over time.
Four-Bedroom - A property with four bedrooms, often listed as a feature in real estate descriptions.
Free and Clear - A property without any liens or mortgages, fully owned by the owner.
Frontage - The length of a property's boundary that faces a street or water body.
Full-Service Lease - A lease agreement where the landlord covers all property expenses, including maintenance and utilities.
Functional Utility - A property's capacity to meet its intended purpose effectively.
Funding Fee - A fee charged by the Department of Veterans Affairs (VA) to guarantee a VA loan.
Future-Value Appraisal - An estimate of a property's value at a specific point in the future.
Fair Credit Billing Act (FCBA) - A law that protects consumers against unfair billing practices.
Federal Deposit Insurance Corporation (FDIC) - A federal agency insuring deposits in banks and savings institutions.
Fee Estate - Absolute ownership of a property without any limitations.
Fee Tail Estate - A type of ownership where a property is passed on to a specific line of descendants.
Financial Statements - Documents showing a person's or entity's financial position and performance.
Fixed Asset - A long-term asset, like real estate, held for business or investment purposes.
Fixture Filing - Recording a claim on personal property that is attached to real estate.
Flex Space - Versatile commercial space that can be adapted to various uses.
Floodplain - Low-lying areas susceptible to flooding during heavy rainfall or rising water levels.
Floor Loan - A short-term construction loan to finance a building's ground floor before additional floors are added.
Floor Price - The minimum price set for bidding on a property at an auction.
Fluctuating Rate Mortgage - A mortgage with an interest rate that can change over time.
Foreclosure Auction - A public sale of a property to recover outstanding mortgage debt after foreclosure.
Foreclosure Moratorium - A temporary suspension of foreclosure proceedings during a specified period.
Forgivable Loan - A loan that is partially or entirely forgiven over time, often used in affordable housing programs.
Forward Commitment - A contractual agreement to purchase a property at a future date.
Foundation Certificate - A document confirming a property's foundation meets required standards.
Fractional Ownership - Owning a portion of a property alongside other investors.
Freehold - Absolute ownership of a property and the land it stands on.
French Doors - A type of door with glass panels extending almost the full length of the door.
Front-Footage - A method of assessing property taxes based on the width of the property facing the street.
Full Recourse - A loan agreement where the borrower is personally liable for any unpaid debt.
Fungible - Interchangeable or replaceable, often used in reference to similar properties.
Furniture Staging - Arranging furniture and decor in a property to enhance its appeal to potential buyers.
Future Value - The estimated worth of a property at a specific time in the future, considering appreciation and market conditions.

G

Gap Financing - Short-term funding used to bridge the gap between acquiring a property and securing long-term financing.
Garden Apartment - A ground-floor residential unit with direct access to outdoor space.
General Contractor - A professional responsible for managing and overseeing a construction project.
Gift of Equity - A financial gift from a property owner to a family member, used as part of the down payment.
Ginnie Mae (Government National Mortgage Association) - A government agency that guarantees mortgage-backed securities.
Good Faith Estimate (GFE) - An estimate of closing costs provided by a lender to a borrower.
Government Survey System - A land surveying system dividing land into rectangular sections.
Grace Period - A short period after a due date during which late fees are not charged.
Graduate Real Estate Institute (GRI) - A professional designation indicating advanced real estate education.
Grant Deed - A legal document transferring ownership of a property from a grantor to a grantee.
Gross Income - Total income generated by a property before deducting expenses.
Gross Lease - A lease where the landlord covers property expenses like maintenance and taxes.
Ground Lease - A lease where the tenant only leases the land and constructs improvements.
Growing-Equity Mortgage - A mortgage with increasing payments that build equity faster.
Guaranteed Sale Program - An agreement between a seller and an agent to buy the property if it doesn't sell within a specified time.
Guarantee of Title - An assurance that a property has a clear and marketable title.
Guaranteed Replacement Cost - An insurance policy covering the full cost of replacing damaged property, regardless of current value.
Gated Community - A residential area enclosed by gates or walls, often with restricted access.
Government Loan - A mortgage backed by a government agency, such as FHA or VA loans.
Grantee - The person or entity receiving ownership of a property through a deed.
Grantor - The person or entity transferring ownership of a property through a deed.
Gross Building Area - The total floor area of a building, including all levels and spaces.
Ground-Up Development - Building a new property from scratch on vacant land.
Growth Management - Policies and regulations controlling urban growth and development.
Government National Mortgage Association (GNMA) - Another name for Ginnie Mae.
General Warranty Deed - A deed guaranteeing the title's validity and protecting against claims.
Good Title - A title free of defects and liens, allowing the property's sale without hindrance.
Graduated Lease - A lease with increasing rent payments over time.
Guest House - A separate living unit on a property, often used for guests or rentals.
Group Home - A shared living arrangement for unrelated individuals, often with special needs or disabilities.
Grading - Modifying the land's contours to prepare for construction or landscaping.
Growth Fund - A real estate investment fund focused on properties with potential for significant appreciation.
Groundwater - Water found beneath the Earth's surface, often relevant in real estate due to well usage.
Greenbelt - An area of protected open space, usually surrounding urban areas.
Gross Leaseable Area - The total floor area available for lease in a commercial building.
Government-Sponsored Enterprise (GSE) - A financial institution with government backing but privately owned.
Guest Clause - A clause in a lease specifying the maximum number of days guests can stay.
General Lien - A claim on all of a person's assets, not just a specific property.
Ground Rent - Periodic payments made by a lessee to a lessor for leasing land.
Gross Potential Income - The total income a property could generate at full occupancy.
Gross Sales Price - The total selling price of a property, including all costs and fees.
Grantee Index - A public record of property ownership by grantee names.
Grantor Index - A public record of property transfers by grantor names.
Guarded Community - A residential area with security personnel to control access and safety.
General Partner - A partner with unlimited liability in a real estate partnership.
Growth Rate - The annual percentage change in a property's value or population in a given area.
Ground Water Rights - Legal rights to use and access groundwater on a property.
Groundwater Contamination - Pollution of groundwater due to human activities or natural factors.
Gross Absorption - The total square footage leased in a market during a specific period.
Going-Concern Value - The additional value of a property due to an established business operating on it.
Growth Zones - Areas designated for urban growth and development.
Gain - The positive difference between the purchase price and sale price of a property.
Green Building - A property designed and built with environmentally friendly features and sustainability in mind.
General Plan - A comprehensive document outlining a city's long-term development goals and policies.
Gross Area - The entire floor area of a building, including walls and internal structures.
Governmental Taking - The acquisition of private property by the government for public use, with just compensation.
Ground Up - The process of constructing a new building from the foundation upward.
Greenfield - Undeveloped land, often used for new construction.
Gentrification - The transformation of a low-income neighborhood into a more affluent one.
Gross Potential Rent - The total rental income a property could generate at full occupancy.
Gross Building Income - The total income generated by a building before expenses.
Gross Living Area - The total interior floor area of a residential property.
Governmental Assessment - An evaluation of a property's value for taxation purposes.
Grandfather Clause - An exemption from new regulations for existing properties or owners.
Ground Leasehold Estate - The right to use and develop leased land for an extended period.
GRI (Graduate, REALTOR® Institute) - A professional designation indicating advanced real estate education.
Ground Floor - The lowest floor level of a building, usually at street level.
Groundwater Recharge - The natural process of replenishing groundwater resources.
Gross Rent Multiplier (GRM) - A metric used to estimate a property's value based on its rental income.
Gap Loan - Short-term financing to cover the difference between a construction loan and the property's value.
Ghost Town - An abandoned town with few or no residents.
Governmental Certificate - A document confirming that a property meets certain building and zoning requirements.
Ground Lease Fee - A periodic payment made by a lessee for leasing land.
Geographic Farming - Focusing marketing efforts on a specific geographic area to gain clients.
Gross Building Volume - The total volume of a building, including all floors and spaces.
Gross Operating Income (GOI) - The total income a property generates before expenses.
Gross Rent - The total rent charged for a property, excluding any expenses.
Ground Rent Tax - A tax levied on the rent paid for leasing land.
General Assessment - A tax levied on all properties in a jurisdiction to fund public services.
Ground Lease Mortgage - A mortgage secured by a leasehold interest in the land.
Government Lot - A section of land set aside for government use, like public buildings or schools.
General Real Estate Tax - A tax based on the assessed value of a property, used to fund local government.
General Warranty - A guarantee by a seller that the property's title is free of defects.
Garden Roof - A rooftop space featuring gardens and vegetation for aesthetics and environmental benefits.
Gross Income Multiplier (GIM) - A metric used to estimate a property's value based on its income.
Good Credit - A positive credit history, indicating a person's trustworthiness in repaying debts.
Groundwater Level - The depth at which groundwater can be found beneath the Earth's surface.
Government Subsidized Housing - Affordable housing supported by government assistance.
Garden Court - A communal garden area shared by residents of an apartment complex.
Graduated Payment Mortgage (GPM) - A mortgage with initial lower payments that increase over time.
Government National Mortgage Association (GNMA) - A government agency that guarantees mortgage-backed securities.
Gross Building Factor - A metric determining the maximum building size relative to the land area.
Gross Investment in Real Estate - The total value of an investor's real estate holdings.
Guest Occupancy - The act of occupying a property temporarily as a guest.
Government Securities - Financial instruments backed by the U.S. government, often used in real estate financing.
General Contractor Agreement - A contract detailing the scope of work and terms for a construction project.
Grace Period Clause - A clause in a lease allowing a tenant extra time to make a rent payment.
Grantee Clause - A clause in a deed naming the recipient of the property.
Grounds - The exterior areas of a property, including landscaping and open spaces.
Ground Cover - Vegetation used to prevent soil erosion and promote a healthy landscape.

H

Hard Money Loan - A short-term, high-interest loan secured by real estate, often used by investors.
Hazard Insurance - Insurance coverage protecting against property damage from specific hazards.
Hectare - A metric unit of land measurement equal to 10,000 square meters.
Homeowners Association (HOA) - An organization that manages and enforces rules in a residential community.
Home Equity - The difference between a property's market value and outstanding mortgage balance.
Home Inspection - A thorough examination of a property's condition before purchase.
Home Warranty - A service contract covering repairs and replacements for home systems and appliances.
Home Equity Loan - A loan using a property's equity as collateral.
Home Equity Line of Credit (HELOC) - A revolving credit line using home equity as collateral.
Home Staging - Preparing and decorating a property to make it more appealing to potential buyers.
Homeowners Insurance - Insurance coverage protecting against property damage and liability.
Housing Starts - The number of new residential construction projects that have begun.
Holding Period - The duration an investor holds a property before selling it.
Homestead Exemption - A property tax reduction for owner-occupied primary residences.
Historic District - An area recognized for its historical significance and protected by regulations.
Housing Bubble - An unsustainable surge in real estate prices, followed by a sharp decline.
Hybrid Appraisal - An appraisal using both an automated valuation model and a physical inspection.
Home Occupation - A business operating from a residential property with certain restrictions.
HOA Fees - Periodic dues paid by homeowners to cover community expenses and amenities.
Home Inspector - A professional who conducts home inspections to assess a property's condition.
Homebuyer's Warranty - A service contract offering warranty coverage for certain home components.
Housing Discrimination - Illegal practices denying housing based on protected characteristics.
Housing Ratio - A calculation comparing a borrower's income to housing-related expenses.
Homestead - The primary residence of a homeowner, often protected from creditors.
Housing Cooperative - A type of ownership where residents collectively own a housing complex.
Home Office Deduction - Tax deduction for expenses related to a home office used for business.
Holdover Tenant - A tenant who remains in a property after the lease has expired.
Housing Voucher - A government program providing rental assistance to low-income individuals.
Housing Inventory - The number of homes available for sale in a specific market.
Housing Market Index (HMI) - A monthly survey measuring homebuilder confidence.
Hard Costs - Construction expenses directly associated with building materials and labor.
Home Automation - Integrating smart technology to control home systems remotely.
Housing Cooperative Corporation - The legal entity owning and managing a cooperative property.
Housing Expense Ratio - The percentage of a borrower's income spent on housing expenses.
Home Office Exclusion - Tax exclusion for capital gains on the sale of a primary residence.
Home Inspection Contingency - A clause in a purchase contract allowing the buyer to inspect the property before finalizing the sale.
Home Affordable Refinance Program (HARP) - A government program helping homeowners refinance their mortgages.
Home Value Estimator - An online tool providing an estimate of a property's value.
Hybrid ARM (Adjustable-Rate Mortgage) - A mortgage with a fixed rate for a certain period before adjusting.
Home Price Index (HPI) - A measurement tracking changes in home prices over time.
Home Builders Association (HBA) - A professional organization representing home builders and related industries.
Homeowner's Equity - The portion of a property owned outright by the homeowner, excluding any loans.
Homeowner's Insurance Policy - The contract outlining coverage and terms of a homeowner's insurance plan.
House Poor - A situation where a homeowner's housing costs leave little money for other expenses.
Home Value - The estimated worth of a property, often determined by an appraisal or market analysis.
Hectareage - The total area measured in hectares.
Housing Code - Local regulations governing housing conditions and safety.
Home Affordability Calculator - A tool estimating how much house a person can afford based on income and expenses.
Holding Costs - Expenses incurred while owning a property, such as taxes, insurance, and maintenance.
Home Equity Conversion Mortgage (HECM) - A reverse mortgage program for senior homeowners.
Home Inspection Report - A detailed document outlining the findings of a home inspection.
Hurdle Rate - The minimum return a real estate investment must achieve to be considered profitable.
Home Office - A designated area within a residence used for business or work purposes.
Homeowner's Warranty - A service contract covering repairs and replacements for home systems and appliances.
Home Sale Contingency - A clause in a purchase contract making the sale contingent on the buyer selling their current home.
Home Repair Loan - A loan used to finance property repairs or renovations.
Historic Preservation - The effort to protect and preserve historically significant buildings and sites.
Housing Co-op - A cooperative housing arrangement where residents collectively own the property.
Homebuyer Education - Educational programs helping prospective buyers navigate the home buying process.
Home Appraisal - A professional evaluation of a property's value, often conducted for mortgage approval.
Housing Authority - A government agency providing affordable housing and housing assistance programs.
House Rules - The regulations and guidelines governing behavior in a shared living community.
Housing Allowance - A benefit providing financial assistance for housing costs.
Home Equity Appreciation - The increase in a property's value over time.
Homeowners Association Fee - A regular payment made by homeowners for community maintenance and services.
Home Office Expenses - Deductible expenses related to operating a business from home.
Home Equity Line of Credit (HELOC) - A revolving credit line using a property's equity as collateral.
Home Warranty Plan - A service contract providing coverage for home systems and appliances.
Home Buying Process - The steps involved in purchasing a property, from search to closing.
Housing Discrimination Act - Legislation prohibiting discrimination in housing based on certain characteristics.
Home Equity Conversion Mortgage (HECM) - A reverse mortgage for seniors, allowing them to convert home equity into cash.
Home Equity Loan - A loan using a property's equity as collateral.
Housing Bubble - A rapid increase in property prices followed by a significant decline.
Home Purchase Agreement - A legal contract outlining the terms of a home purchase.
Homeowner's Insurance - Insurance coverage protecting against property damage and liability.
Home Equity - The difference between a property's market value and outstanding mortgage balance.
Home Inspection - An assessment of a property's condition before purchase.
Homeowners Association (HOA) - An organization managing and enforcing rules in a residential community.
Home Equity Line of Credit (HELOC) - A revolving line of credit secured by a property's equity.
Home Appraisal - A professional assessment of a property's value.
Home Staging - Preparing and decorating a property to appeal to potential buyers.
Homestead Exemption - A reduction in property taxes for owner-occupied primary residences.
Homebuying Process - The steps involved in purchasing a property, from search to closing.
Homebuyer Education - Educational programs helping buyers understand the homebuying process.
Home Inspection Report - A detailed document summarizing the findings of a property inspection.
House Rules - Regulations governing the behavior of residents in a shared living community.
House Hacking - A real estate investment strategy where the owner lives in one unit and rents out others.
Holding Costs - The ongoing expenses of owning a property, such as taxes and maintenance.
Historic Preservation - Efforts to protect and preserve historically significant buildings and sites.
Housing Authority - A government agency providing affordable housing and housing assistance programs.
Housing Discrimination Act - Legislation prohibiting housing discrimination based on certain characteristics.
Home Equity Loan - A loan using a property's equity as collateral.
Housing Bubble - A rapid increase in property prices followed by a significant decline.
Home Purchase Agreement - A legal contract outlining the terms of a home purchase.
Homeowner's Insurance - Insurance coverage protecting against property damage and liability.
Home Equity - The difference between a property's market value and outstanding mortgage balance.
Home Inspection - An assessment of a property's condition before purchase.
Homeowners Association (HOA) - An organization managing and enforcing rules in a residential community.
Home Equity Line of Credit (HELOC) - A revolving line of credit secured by a property's equity.
Home Appraisal - A professional assessment of a property's value.

I

Income Property - A property purchased to generate rental income or profit from its appreciation.
Index Lease - A lease with rent tied to an economic index, like the Consumer Price Index (CPI).
Installment Sale - A property sale where the buyer pays in installments over time.
Interest Rate - The percentage charged on a loan or earned on an investment.
Investment Property - Real estate purchased with the intent of generating income or appreciation.
Inflation - The increase in general price levels, affecting the cost of goods and services.
Industrial Park - A planned area with multiple industrial buildings and facilities.
Interim Financing - Short-term financing used until permanent financing is secured.
Intangible Property - Assets that lack physical substance, like patents or copyrights.
In Rem - A legal action taken against a property itself, not the property owner.
Intestate - Dying without a valid will, leading to the distribution of assets according to state laws.
Interest-Only Mortgage - A mortgage where the borrower pays only interest for a specific period.
Initial Interest Rate - The introductory interest rate on an adjustable-rate mortgage.
Investor - A person or entity that invests in real estate for profit.
Incentive Zoning - Zoning regulations offering developers incentives in exchange for public benefits.
Insurance Binder - A temporary insurance policy issued while waiting for a permanent one.
Internal Rate of Return (IRR) - A financial metric measuring the profitability of an investment.
Investment Analysis - An evaluation of potential investment properties to determine their profitability.
Ingress - A legal right to enter a property through a specific access point.
Illegal Use - A property use that violates zoning or building codes.
Improvements - Additions or alterations made to a property to enhance its value.
Indenture - A legal document outlining the terms of a mortgage or bond agreement.
Interpleader - Legal action to resolve disputes over property ownership.
Incentive - A financial or non-financial reward used to encourage specific actions.
Income Approach - A property valuation method based on potential income generated.
Infrastructure - Public systems and facilities supporting a community, like roads and utilities.
Inventory - The number of properties available for sale in a specific market.
Injunction - A court order prohibiting or compelling certain actions regarding a property.
Incidental Damages - Additional expenses incurred due to a breach of contract or negligence.
Investment Club - A group of individuals pooling funds to invest in real estate.
Impound Account - A reserve account used to cover property taxes and insurance.
Independent Contractor - A self-employed professional hired for specific services without employment benefits.
Insurable Title - A property title that can be covered by title insurance.
Installment Contract - A contract where the buyer pays for a property in installments, but the seller retains ownership until fully paid.
Internal Revenue Service (IRS) - The U.S. federal agency responsible for tax collection and enforcement.
Investment Group - A partnership or organization formed to invest collectively in real estate.
Infill Development - New construction within existing urban areas or vacant lots.
Independent Appraisal - An unbiased property valuation conducted by a licensed appraiser.
Interest Rate Cap - A limit on how much an interest rate can increase or decrease over a specified period.
Inspection Contingency - A clause in a purchase contract allowing the buyer to inspect the property before finalizing the sale.
Income-Generating Property - Real estate properties that produce rental income or cash flow.
Indemnification - Compensation or protection against loss or damage.
Inherited Property - A property passed on to heirs after the owner's death.
Incremental Cost - The additional expense incurred for a specific action or investment.
Interest-Only Loan - A loan where the borrower pays only interest for a specific period.
Inflation Hedge - An investment that protects against the eroding effects of inflation.
Income Suite - A separate living unit within a property rented out for additional income.
Intentional Tort - A deliberate wrongful act resulting in harm or loss.
Inventory Turnover - A metric measuring how quickly properties sell in a given market.
Interim Financing - Short-term financing used until permanent financing is secured.
Installment Sale - A property sale where the buyer pays in installments over time.
Industrial Park - A planned area with multiple industrial buildings and facilities.
Interest-Only Mortgage - A mortgage where the borrower pays only interest for a specific period.
Initial Interest Rate - The introductory interest rate on an adjustable-rate mortgage.
In Rem - A legal action taken against a property itself, not the property owner.
Intestate - Dying without a valid will, leading to the distribution of assets according to state laws.
Interest-Only Loan - A loan where the borrower pays only interest for a specific period.
Incidental Damages - Additional expenses incurred due to a breach of contract or negligence.
Indemnification - Compensation or protection against loss or damage.
Injunction - A court order prohibiting or compelling certain actions regarding a property.
Investment Group - A partnership or organization formed to invest collectively in real estate.
Infill Development - New construction within existing urban areas or vacant lots.
Independent Appraisal - An unbiased property valuation conducted by a licensed appraiser.
Investment Club - A group of individuals pooling funds to invest in real estate.
Income Suite - A separate living unit within a property rented out for additional income.
Incremental Cost - The additional expense incurred for a specific action or investment.
Interest-Only Loan - A loan where the borrower pays only interest for a specific period.
Inventory Turnover - A metric measuring how quickly properties sell in a given market.
Inherited Property - A property passed on to heirs after the owner's death.
In Rem - A legal action taken against a property itself, not the property owner.
Incremental Cost - The additional expense incurred for a specific action or investment.
Inventory Turnover - A metric measuring how quickly properties sell in a given market.
Industrial Park - A planned area with multiple industrial buildings and facilities.
Interest-Only Mortgage - A mortgage where the borrower pays only interest for a specific period.
Income Suite - A separate living unit within a property rented out for additional income.
Intestate - Dying without a valid will, leading to the distribution of assets according to state laws.
Interest-Only Loan - A loan where the borrower pays only interest for a specific period.
Inventory Turnover - A metric measuring how quickly properties sell in a given market.
Income Suite - A separate living unit within a property rented out for additional income.
Incidental Damages - Additional expenses incurred due to a breach of contract or negligence.
Investment Group - A partnership or organization formed to invest collectively in real estate.
Infill Development - New construction within existing urban areas or vacant lots.
Independent Appraisal - An unbiased property valuation conducted by a licensed appraiser.
Investment Club - A group of individuals pooling funds to invest in real estate.
Income Suite - A separate living unit within a property rented out for additional income.
Intestate - Dying without a valid will, leading to the distribution of assets according to state laws.
Interest-Only Loan - A loan where the borrower pays only interest for a specific period.
Inventory Turnover - A metric measuring how quickly properties sell in a given market.
Inherited Property - A property passed on to heirs after the owner's death.
Investment Property - Real estate purchased with the intent of generating income or appreciation.
Income Approach - A property valuation method based on its potential income.
Internal Rate of Return (IRR) - A financial metric measuring the profitability of an investment.
Indenture - A legal document outlining the terms of a mortgage or bond agreement.
In Rem - A legal action taken against a property itself, not the property owner.
Incentive Zoning - Zoning regulations offering developers incentives in exchange for public benefits.
Intangible Property - Assets that lack physical substance, like patents or copyrights.
Interest Rate - The percentage charged on a loan or earned on an investment.
Inflation - The increase in general price levels, affecting the cost of goods and services.
Industrial Park - A planned area with multiple industrial buildings and facilities.
Income Property - A property purchased to generate rental income or profit from its appreciation.

J

J-1 Visa Program: A visa program for temporary work in the U.S., commonly used in seasonal industries.
J-1 Visa: A visa program allowing foreign nationals to work in the U.S., commonly used in hospitality industries.
J-24 Certificate: A certificate issued by the New York City Department of Housing Preservation and Development.
J-51 Tax Abatement: A property tax incentive for renovation or improvement projects in New York City.
J-51 Tax Benefits: Tax incentives for improving multiple dwellings in New York City.
J-6: A document required for tax abatement application in New York City.
Jack and Jill Bathroom: A bathroom with two separate entrances, typically accessible from two bedrooms.
Jacking and Leveling: The process of raising a structure to level it.
Jacking: The process of lifting a building to repair its foundation or relocate it.
Jackshaft Operator: A motorized operator used for garage doors.
Jacuzzi: A brand name for a whirlpool bath or hot tub, often used as a selling point in real estate listings.
Jalousie Door: A door with slatted glass panels that open and close with a crank.
Jalousie Windows: Slatted glass windows that open and close in a crank-operated frame.
Jalousie: A window with glass slats, operable with a crank.
Jamb: The vertical side of a door or window frame.
Jargon: Technical language specific to the real estate industry.
J-Box: Junction Box, an enclosure for electrical connections.
Jettison: The act of selling or disposing of a property to minimize losses.
Jib Crane: A type of crane with a pivoting arm used for heavy lifting.
Jib Door: A small door or opening built into a larger door for convenience.
Jib Doorway: A small doorway built into a larger one for added convenience.
Jib Window: A small window, often located above a larger window.
Jib: The arm of a crane.
Jingle Mail Strategy: Deliberately defaulting on a mortgage and mailing the keys back to the lender.
Jingle Mail Syndrome: The phenomenon of homeowners strategically defaulting on their mortgage.
Jingle Mail: A situation where a homeowner mails the keys to their lender to relinquish the property due to foreclosure risk.
Jitney Bus: A small shuttle bus often used for transport in tourist areas.
Jitney Service: A shuttle service, often used in resort areas.
Jitney Van: A small shuttle van used for transport in certain areas.
Jitney: A small bus or van used to transport people between destinations, often in resort areas.
Jitterbug Finish: A textured finish applied to stucco surfaces.
Jitterbug Technique: A stucco texturing technique.
Job Cost Report: A report showing all costs incurred for a specific construction project.
Job Costing: Tracking and allocating costs to specific construction projects.
Job Site: The location of a construction project.
Joint Agent: A real estate agent who works with another agent to represent both the buyer and the seller.
Joint and Several Liability: When multiple parties are held responsible for a debt or obligation both collectively and individually.
Joint and Several Note: A promissory note signed by multiple parties, making each responsible for the entire debt.
Joint and Several Release: A legal document releasing one party from a joint and several liability.
Joint Application: A mortgage application submitted by two or more borrowers.
Joint Check Agreement: An agreement between parties to make payments through a joint-check for services rendered.
Joint Checking Account: A bank account shared by two or more individuals for managing common expenses.
Joint Control Agreement: A contract outlining the shared control of a real estate asset.
Joint Control: Shared control over a property or project between multiple parties.
Joint Credit: A credit application submitted by two or more individuals.
Joint Liability: Shared responsibility among multiple parties for a debt or obligation.
Joint Life Annuity: An annuity that pays out as long as
Joint Meeting: A meeting involving multiple parties, such as buyers, sellers, and agents.
Joint Occupancy: The act of occupying a property together by multiple parties.
Joint Ownership Deed: A deed granting ownership rights to multiple parties.
Joint Property Ownership: Co-ownership of a property with shared rights and responsibilities.
Joint Property Purchase: The joint acquisition of real estate by multiple buyers.
Joint Tenancy Deed: A legal document granting joint ownership rights with the right of survivorship.
Joint Tenancy with Right of Survivorship: A form of property co-ownership where the surviving owner(s) inherit the deceased owner's share.
Joint Tenancy: A form of property ownership where two or more individuals share equal ownership rights with the right of survivorship.
Joint Venture Agreement: A contract outlining the terms and responsibilities of parties in a joint venture.
Joint Venture Capital: Capital provided for a joint venture project.
Joint Venture Developer: A developer involved in a joint venture real estate project.
Joint Venture: A partnership between two or more parties to develop or invest in a real estate project.
Jointly Owned Property: Property owned by multiple parties, each with an undivided interest.
Jolt Test: A test to check the strength and stability of a building or foundation.
Journal Entry: A financial record of transactions in accounting or property management.
Journalize: To record a financial transaction in an accounting journal.
Journeyman: A skilled tradesperson who has completed their apprenticeship but is not yet a master.
Judgment Lien: A legal claim against a property resulting from an unpaid court judgment.
Judgment Proof: A person with insufficient assets to satisfy a court judgment.
Judicial Foreclosure: The foreclosure process overseen by the court system.
Judicious Use: The wise and prudent use of resources in real estate development or investment.
Jumbo Brick: An extra-thick brick, often used for soundproofing.
Jumbo CD: A large certificate of deposit with a high minimum deposit requirement.
Jumbo Certificate of Deposit: A large, high-value CD with a high minimum deposit requirement.
Jumbo Certificate: A document certifying a large, high-value deposit.
Jumbo Frame: A large, oversized window frame.
Jumbo Loan Market: The market for high-value mortgage loans.
Jumbo Loan: A mortgage loan that exceeds the conforming loan limits set by government-sponsored enterprises.
Jumbo Mortgage Loan: A loan that exceeds the conventional loan limits set by Fannie Mae and Freddie Mac.
Jumbo Mortgage Market: The market for large mortgage loans.
Jumbo Mortgage: A large mortgage loan exceeding the limits set for conventional mortgages.
Jumbo Rate Mortgage: A mortgage with a higher interest rate due to the large loan amount.
Jumbo Refinance: The refinancing of a high-value mortgage loan.
Jumbo Refinancing: Refinancing a large mortgage loan.
Jumbo Underwriting: The process of evaluating and approving a high-value mortgage.
Jump Bid: An abrupt increase in bidding during an auction.
Jumping the Curve: Buying a property ahead of its expected value increase.
Jump-Page Mortgage Loan: A mortgage loan with a variable interest rate.
Jump-Page Mortgage: A mortgage with an adjustable interest rate that jumps after an initial fixed-rate period.
Junior Appraiser: An appraiser who works under the supervision of a senior appraiser.
Junior Capital: A lower-priority form of financing in real estate deals.
Junior Mortgage: A secondary mortgage that is subordinate to the first (primary) mortgage.
Junior Participation: A loan with a secondary position, usually with lower priority for repayment.
Junior Suite Hotel Room: A larger hotel room with additional amenities.
Junior Suite: A smaller suite or apartment, often located within a larger property.
Junk Bond: A high-risk, high-yield bond used to finance real estate projects.
Junk Fee: An extra and unnecessary fee charged by a lender or broker.
Jurisdiction Clause: A clause in a contract indicating the legal jurisdiction applicable to any disputes.
Jurisdiction: The geographic area or authority in which a court has legal power.
Jurisprudence: The study and theory of law in the context of real estate.
Jute Backing: A natural fiber backing used in some types of carpeting.
Juxtaposition of Amenities: The positioning of property features or amenities to create value.
Juxtaposition: The arrangement or location of a property in relation to other nearby properties or features.

K

Keep in Good Repair: The obligation of a tenant to maintain the property's condition.
Keep Open Clause: A lease provision requiring a tenant to keep the business open for a specified period.
Keep Open Covenant: A clause in a lease that requires a retail tenant to remain open for business.
Keep Open Provision: A lease clause requiring a tenant to maintain business operations during specific hours.
Keep Well Letter: A letter confirming the financial health of a business or borrower.
Keeper Bond: A financial guarantee that a tenant will maintain the property in good condition.
Keeper Fee: A fee paid to a property manager for retaining a tenant.
Keeper Rent: Rent paid by a tenant to a property owner or manager.
Keeper: A person responsible for maintaining a property or managing a lodging establishment.
Keep-Well Agreement: A contract where one party agrees to maintain financial stability to ensure loan repayment.
Keiretsu: A network of interlocking businesses, common in Japan.
Kennel License: A permit to operate a facility for housing pets.
Kernel Density Estimation: A method to estimate the probability density of data points in a given area.
Kernel Density: A statistical analysis to show density variations in a geographic area.
Kernel: The central part of a development, often attracting more foot traffic.
Key Handover: The act of giving possession of a property to a tenant or buyer.
Key Housing Market Indicator: A significant metric used to assess the real estate market.
Key Lock Box: A secure box holding keys to a property, accessible only by authorized individuals.
Key Lot Surcharge: An additional charge on a key lot due to its strategic location.
Key Lot: A property located at an intersection, typically with greater value.
Key Man Clause: A clause in a loan agreement that requires a key person to remain in the company.
Key Money Fee: A payment made to a landlord to secure a property lease.
Key Money Rent: A rental payment made in advance to secure a property.
Key Money: An upfront payment made by a tenant to secure a lease on a property.
Key Note Speaker: A prominent speaker at a real estate event or conference.
Key Party: An event where invited guests place their keys in a bowl and pick a set at random at the end of the night.
Key Person Clause: A provision in a contract that allows termination if a key individual leaves the company.
Key Person Insurance: An insurance policy taken out on a key individual involved in a business.
Key Plan: A small map showing the location of a property in relation to its surroundings.
Key Plate: A decorative plate surrounding a keyhole.
Key Rate Risk: The risk associated with changes in key interest rates.
Key Rate: The prevailing interest rate that influences mortgage rates.
Key Station: A security checkpoint or location for managing keys.
Key Terms: The essential points of a real estate agreement.
Key Up: To upgrade or improve a property.
Key-Card Access: A security system using electronic key cards for entry.
Keyed Entrance: A building entrance that requires a key for access.
Keyed Joint: A joint between two pieces of material that interlock.
Keyed-Alike: Multiple locks that are configured to use the same key.
Keyed-Up Mortgage: A mortgage with an interest rate that is subject to change.
Keyhole Garden: A circular garden with a composting basket in the center.
Keying: The process of fitting keys to locks.
Keynote Address: The main speech at a real estate event.
Keynote Speech: The primary speech at an event or conference.
Keypad Lock: A lock that requires a code or PIN for entry.
Key-Rate Duration: A measure of the interest rate risk for a mortgage-backed security.
Keystone Coping: A type of coping used on swimming pools.
Keystone Course: The final, central stone in an archway.
Keystone Price: The ideal price for a property, often crucial for a quick sale.
Keystone: The central, wedge-shaped stone at the top of an arch, often used metaphorically to signify importance.
Key-Value Pair: A data structure in real estate software for organizing information.
Kick Off Meeting: The initial meeting to start a real estate project.
Kick Plate: A metal plate installed at the bottom of a door to protect it from damage.
Kick: An indentation in a wall or foundation caused by settlement or damage.
Kickback: An illegal payment made for referring business to someone.
Kicker Clause: A provision in an agreement that stipulates an additional payment under certain conditions.
Kicker Mortgage: A mortgage with an additional payment to the lender when a certain event occurs.
Kicker: An additional payment, often a percentage of profit, given to an investor or partner.
Kick-Out Agreement: A contract allowing a seller to accept a better offer before closing.
Kick-Out Clause Deadline: The deadline by which the seller must exercise the kick-out clause.
Kick-Out Clause Offer: An offer contingent on the seller exercising the kick-out clause.
Kick-Out Clause: A clause in a purchase contract that allows the seller to accept a better offer before closing.
Kidnap Insurance: Insurance coverage for ransom or extortion situations.
Kill Fee: A fee paid to a real estate agent when a deal falls through.
Kiosk Lease: A lease agreement for a kiosk space in a shopping center or mall.
Kiosk: A small, freestanding booth often used for retail or information purposes.
Kit Home: A prefabricated home that can be assembled on-site.
Kitchenette: A small kitchen or kitchen-like area, often in a hotel room or apartment.
Kitec Plumbing System: A plumbing system known for issues with corrosion and leaks.
Kiting Check: Writing a check without sufficient funds to cover it.
Kiting: Illegally inflating the value of a property through false appraisals.
Knob-and-Tube Wiring: An outdated electrical wiring system.
Knock Box: A container for collecting used keys, typically used in real estate offices.
Knock for Knock: An insurance clause where each party agrees to cover damages to their own property.
Knock: An offer lower than the listing price.
Knockdown Ceiling: A ceiling with a textured finish.
Knockdown Door Frame: A door frame that can be disassembled.
Knockdown Furniture Market: A market for furniture sold in disassembled form.
Knock-Down Furniture: Furniture that can be disassembled for easy transport.
Knockdown House: A house built from prefabricated panels or modules.
Knockdown Pest Control: A pest control treatment targeting specific pests.
Knockdown Rebuild: Demolishing an old property to construct a new one.
Knockdown Texture Ceiling: A textured ceiling finish applied using a special technique.
Knockdown Texture: A textured finish applied to walls or ceilings.
Knock-In Option: An option that becomes active when certain conditions are met.
Knocking Down: Demolishing a structure.
Knocking Through Wall: Removing a wall to connect two spaces.
Knocking Through: Removing a wall or barrier to open up space.
Knock-Off: An imitation or counterfeit product.
Knock-Offs Market: A market where counterfeit goods are sold.
Knockout Barrier Option: A barrier option that nullifies when a certain level is reached.
Knockout Option Contract: A contract granting the right to terminate under specific conditions.
Knockout Option: A lease clause allowing either party to terminate the agreement under certain conditions.
Knock-Out Panel: A removable panel in a door for pet access.
Knockout Punch List: A final list of tasks to complete before a project is considered finished.
Knockout: A condition in a purchase agreement that nullifies the deal if not met.
Knock-Up: The process of estimating construction costs for a project.
Knot-Free Wood: Wood without knots, commonly used for high-quality finishings.
Knowledge Is Power: The importance of being well-informed in real estate transactions.
Koi Pond: A pond designed for keeping koi fish, often considered a feature in luxury properties.

L

Land Bank - A public or private entity that acquires and holds vacant or abandoned properties for future development.
Land Contract - A contract for the sale of land where the buyer makes payments to the seller over time.
Land Cost - The price paid for the acquisition of land for development or investment.
Land Development - The process of preparing and improving land for construction or other purposes.
Land Investment - Purchasing land with the expectation of earning a return on investment.
Land Lease - A rental agreement for the use of land without transferring ownership.
Land Survey - The process of measuring and mapping the boundaries and features of a property.
Land Tax - Taxes imposed on the value of land, often by local authorities.
Land Tenure - The way in which land is held or owned, such as freehold or leasehold.
Land Title - The legal ownership and rights associated with a piece of land.
Land Transfer Tax - A tax imposed on the transfer of property ownership from seller to buyer.
Land Trust - A legal arrangement where a trustee holds the title to a property on behalf of the beneficiary.
Land Trust Agreement - A legal contract defining the terms and conditions of a land trust arrangement.
Land Trust Beneficiary - The person or entity benefiting from a land trust arrangement.
Land Trustee - The person or entity responsible for managing a land trust on behalf of beneficiaries.
Land Use - The designated purpose or activity allowed on a specific piece of land based on zoning regulations.
Land Use Permit - Authorization granted by local authorities for specific land use activities.
Land Use Planning - The process of organizing and regulating land use for optimal development.
Land Use Regulation - Government rules and policies controlling how land can be utilized or developed.
Land Use Restriction - Limitations on the use or development of a property, often imposed by government entities.
Land Use Variance - A permit allowing a deviation from zoning regulations for land use purposes.
Landlocked - A property without direct access to a public road or thoroughfare.
Landlocked Property - A property with no direct access to a public road or right-of-way.
Landlord - The owner or lessor of a property who rents it to a tenant.
Landlord Insurance - Coverage protecting a property owner from losses related to the rental property.
Lateral Support - A right to have neighboring land support a property, preventing soil erosion.
Lease - A legal agreement that allows a tenant to use a property for a specified period in exchange for rent.
Lease Assignment - Transferring a lease agreement to another party, who takes over the lease responsibilities.
Lease Commencement Date - The specific date when a lease officially begins.
Lease Escalation - An increase in the rent amount during the lease term, often tied to inflation or market conditions.
Lease Guarantor - A person or entity providing financial guarantees for a tenant's lease obligations.
Lease Inception Date - The date when a lease agreement is signed and becomes effective.
Lease Option - A lease agreement with an option for the tenant to purchase the property at a predetermined price.
Lease Option Agreement - A contract giving the tenant the option to buy the property at a later date.
Lease Option Purchase - An agreement granting the tenant the option to buy the property at a later time.
Lease Purchase - A lease agreement with an option for the tenant to buy the property at the end of the lease term.
Lease Purchase Agreement - A contract combining a lease and a purchase agreement, giving the tenant the option to buy.
Lease Renewal - Extending the term of a lease after its initial period expires.
Lease Takeover - Assuming the responsibilities of an existing lease from a previous tenant.
Lease Termination - Ending a lease agreement before its original expiration date.
Leasehold - The interest or right a tenant holds in a property during the lease term.
Leasehold Conversion - Changing a property from leasehold to freehold ownership.
Leasehold Enfranchisement - The process of extending a lease or purchasing the freehold from the landlord.
Leasehold Equity - The difference between the property's value and the remaining lease obligations.
Leasehold Estate - The right to possess and use a property subject to the terms of a lease agreement.
Leasehold Improvement - Renovations or enhancements made to a leased property by the tenant.
Leasehold Improvements Insurance - Coverage for improvements made by a tenant to a leased property.
Leasehold Mortgage - A loan secured by a leasehold interest in a property rather than ownership.
Leasehold Property - A property held by a tenant under a lease agreement with the landlord.
Leasehold Rent - The periodic payment made by a tenant to the landlord under a lease agreement.
Leasehold Reversion - The return of a property to the landlord at the end of a lease term.
Leasehold Surrender - Terminating a lease agreement and returning the property to the landlord.
Leasehold Value - The value of a property based on the rights and restrictions of the leasehold interest.
Lender - A financial institution or individual that provides funds to borrowers.
Lender Fee - Charges imposed by the lender to process a loan and cover administrative costs.
Lender's Title Insurance - A policy protecting a lender against title defects on a property.
Letter of Credit - A financial instrument issued by a bank to guarantee payment to the beneficiary.
Letter of Intent (LOI) - A document outlining the key terms of a real estate transaction before the formal contract.
Leverage - Using borrowed funds or debt to finance the acquisition of a property.
Leverage Ratio - A measure of a borrower's debt in relation to their equity in a property.
Lien - A legal claim against a property as collateral for a debt or obligation.
Listing - A property put up for sale or rent by a real estate agent or broker.
Listing Agent - The real estate agent representing the seller in marketing and selling a property.
Listing Agreement - A contract between a property owner and a real estate agent, authorizing the agent to market the property.
Listing Broker - The real estate agent or brokerage responsible for marketing and listing a property for sale.
Littoral Rights - Legal rights of a property owner whose land borders a navigable body of water.
Loan Amortization - The process of paying off a loan through regular installments over time.
Loan Application - The process of applying for a mortgage or other financing to purchase a property.
Loan Application Fee - A fee charged by lenders to process a loan application.
Loan Application Process - The steps taken by a borrower to apply for a mortgage or financing.
Loan Assumption - Taking over the responsibility for an existing mortgage when purchasing a property.
Loan Constant - The ratio of the annual debt service to the original loan amount.
Loan Default - Failing to make mortgage payments as agreed, resulting in potential foreclosure.
Loan Estimate (LE) - A standardized form disclosing loan terms and costs to mortgage applicants.
Loan Forgiveness - Partial or complete cancellation of a borrower's debt by the lender.
Loan Guarantee - A promise by a third party to repay a loan if the borrower defaults.
Loan Modification - Restructuring the terms of a loan to make it more affordable for the borrower.
Loan Note - A legal document outlining the terms of a loan and the borrower's obligation to repay it.
Loan Officer - A person who assists borrowers in obtaining loans from a lender.
Loan Origination Fee - A fee charged by lenders to process a loan application.
Loan Points - Fees paid to a lender to reduce the interest rate on a mortgage loan.
Loan Preapproval - A preliminary approval from a lender based on the borrower's financial information.
Loan Refinancing - Replacing an existing loan with a new one, usually to obtain better terms or rates.
Loan Servicing - The management of a loan, including collecting payments and handling borrower inquiries.
Loan Underwriting - The process of evaluating a borrower's creditworthiness and risk for loan approval.
Loan-to-Cost (LTC) - The ratio of a loan amount to the total cost of a real estate development project.
Loan-to-Income (LTI) - The ratio of a borrower's loan amount to their income.
Loan-to-Value (LTV) - The ratio of a loan amount to the property's appraised value or purchase price.
Loan-to-Value (LVR) Ratio - The ratio of the loan amount to the property's value, expressed as a percentage.
Loan-to-Value Ratio (LTV) - The ratio of the mortgage loan amount to the appraised value of a property.
Loan-to-Value Ratio (LVR) - The ratio of the loan amount to the property's value, expressed as a percentage.
Lockbox - A secure container used to store keys for access to a property by authorized persons.
Lock-In Period - A period during which the borrower cannot prepay or refinance a mortgage without penalties.
Loft - A large open space typically converted from industrial or commercial buildings into residential use.
Loss Mitigation - Efforts made by lenders to prevent foreclosure and assist distressed borrowers.
Loss Ratio - The ratio of a property's insurance losses to the premiums paid.
Lot - A parcel of land with specific boundaries intended for development or construction.
Lot Frontage - The width of a property's front boundary along a street or waterway.
Lot Split - Dividing a larger parcel of land into smaller individual lots for development or sale.
Low-Income Housing Tax Credit (LIHTC) - A federal tax credit program to encourage affordable housing development.

M

Market Analysis - An assessment of current real estate market conditions to determine property value and trends.
Mortgage - A loan obtained to finance the purchase of real estate, secured by the property itself.
Mortgage Broker - An intermediary who connects borrowers with lenders and assists in the mortgage application process.
Mortgagee - The lender who provides the mortgage loan to the borrower.
Mortgagor - The borrower who receives the mortgage loan and pledges the property as collateral.
MLS (Multiple Listing Service) - A database used by real estate agents to share property listings with other agents.
Manufactured Home - A dwelling constructed in a factory and transported to a residential site for installation.
Market Value - The estimated worth of a property based on current market conditions and comparable sales.
Mezzanine Loan - A secondary loan secured by the borrower's equity in the property, often used in commercial real estate.
Master Plan - A comprehensive development plan for a neighborhood, city, or region, outlining land use and infrastructure.
Mortgage Insurance - Insurance coverage that protects the lender in case of borrower default on a mortgage.
Mortgage Note - A legal document detailing the terms and conditions of a mortgage loan.
Mixed-Use Development - A property or building that combines residential, commercial, and/or industrial uses.
Market Rent - The prevailing rental rate for a specific type of property in a particular market.
Maintenance Fee - Regular payments made by condominium or homeowners association members to cover common area expenses.
Mobile Home - A factory-built dwelling designed to be movable, typically placed in a mobile home park.
Mortgage Lien - A legal claim against a property as security for the repayment of a mortgage loan.
Mortgage Originator - A person or institution that facilitates the mortgage application and approval process.
Master Lease - A lease arrangement in which a tenant becomes a sub-lessor to sub-tenants.
Mortgage Preapproval - A preliminary approval from a lender based on the borrower's financial information.
Mortgage Refinancing - Replacing an existing mortgage with a new one, often to secure better terms or lower rates.
Mortgage Servicer - The company responsible for collecting mortgage payments and managing the loan on behalf of the lender.
Market Rent Analysis - An evaluation of comparable rental properties to determine the appropriate rent for a specific property.
Multiple Dwelling - A building designed to accommodate more than one household, such as an apartment complex.
Mortgage Brokerage - A business that connects borrowers with lenders and helps in the mortgage application process.
Mineral Rights - Ownership rights to the minerals located beneath the surface of a property.
Monthly Payment - The regular installment amount paid by a borrower to the lender to repay a mortgage loan.
Mortgage Interest - The cost of borrowing money for a mortgage, expressed as a percentage of the loan amount.
Mixed-Use Property - A property that combines two or more different types of uses, such as residential and commercial.
Margin - The additional interest charged by a lender on top of the index rate for an adjustable-rate mortgage (ARM).
Mortgage Deed - A legal document conveying ownership of a property to the borrower and securing the mortgage loan.
Market Price - The actual price at which a property sells in the current market.
Mortgage Term - The length of time a borrower agrees to repay the mortgage loan.
Mortgage Prequalification - An initial assessment of a borrower's creditworthiness to estimate the mortgage amount they may qualify for.
Mortgage Points - Fees paid to a lender upfront to lower the interest rate on a mortgage loan.
Marketable Title - A title to a property that is free from defects and can be readily transferred to a buyer.
Mortgagee Clause - A provision in a property insurance policy identifying the lender as a loss payee.
Mortgage Rate - The interest rate applied to a mortgage loan.
Mortgage Escrow Account - An account where funds are held to cover property taxes and insurance premiums.
Mortgage Backed Securities (MBS) - Financial instruments representing bundles of mortgages sold to investors.
Mortgage Contingency - A condition in a purchase agreement that makes the deal contingent on obtaining mortgage financing.
Master Planned Community - A large-scale residential development with various amenities and services planned in advance.
Mortgage Broker Fee - A fee charged by a mortgage broker for their services.
Mortgage Amortization - The process of gradually paying off a mortgage loan through regular payments.
Mortgage Insurance Premium (MIP) - A fee paid by borrowers who take out FHA loans to insure against default.
Mortgage Disclosure - A document outlining the terms and costs of a mortgage loan as required by law.
Mortgage Approval - Formal acceptance of a mortgage loan application by a lender, indicating loan commitment.
Maintenance Reserve - A fund set aside by property owners or associations for future maintenance and repairs.
Mortgage Underwriting - The process of evaluating a borrower's creditworthiness and risk for loan approval.
Marketable Title Act - State laws that establish conditions for clear and marketable property titles.
Mortgagee in Possession - When a lender assumes control of a property after the borrower defaults.
Mortgage Assumption - Transferring the responsibility of an existing mortgage to a new buyer.
Mortgage Interest Deduction - Tax benefits allowing homeowners to deduct mortgage interest paid from taxable income.
Mortgage Preapproval Letter - A formal letter from a lender stating a borrower's preliminary mortgage approval.
Mixed-Use Zoning - Zoning regulations allowing multiple types of land use in a particular area.
Mortgage Due Date - The date when a mortgage payment is required to be made.
Material Fact - Important information about a property that may affect its value or desirability, legally required to be disclosed.
Mortgage Loan Officer - A person who assists borrowers in obtaining mortgage loans from a lender.
Mortgage Foreclosure - Legal process by which a lender repossesses a property due to borrower default.
Master Deed - A legal document that establishes a condominium or cooperative development and outlines individual units' ownership.
Mortgage Broker Commission - The fee earned by a mortgage broker for successfully facilitating a loan.
Mortgage Modification - A change to the terms of an existing mortgage to make it more affordable for the borrower.
Mortgage Servicing Rights - The rights to collect mortgage payments from borrowers for the benefit of a mortgage lender or investor.
Master Association - An umbrella organization that oversees multiple sub-associations within a planned community or development.
Mutual Recognition Agreement - A pact between two jurisdictions recognizing each other's real estate licensing standards.
Mortgage-Backed Security (MBS) - A type of asset-backed security representing a claim to cash flows from mortgage loans.
Mortgage Electronic Registration System (MERS) - An electronic registry that tracks mortgage ownership and servicing rights.
Market Absorption Rate - The rate at which available properties sell in a specific market over a given period.
Mortgage Payment Calculator - An online tool that estimates monthly mortgage payments based on loan amount, interest rate, and term.
Multifamily Property - A residential property with multiple units, such as apartments or condominiums.
Mortgage Closing - The final step in a property purchase where all necessary documents are signed, and funds are exchanged.
Mineral Lease - A contract granting the right to extract minerals from a property for a specific period.
Mortgage Points Calculator - A tool to determine the financial impact of paying points to lower the interest rate on a mortgage.
Mortgage Recording Fee - A fee charged by the government to record the mortgage document in public records.
Metes and Bounds - A method of land description using distances and angles to identify property boundaries.
Maintenance and Repairs - Regular upkeep and fixes done on a property to maintain its condition.
Mortgage Assumption Clause - A provision in a mortgage allowing a new buyer to assume the existing mortgage.
Municipal Zoning - Local government regulations that control land use and development in specific areas.
Mortgage Payoff - The total amount required to satisfy a mortgage loan, including the principal, interest, and fees.
Mortgage Qualification - The process of evaluating a borrower's financial status and creditworthiness for a mortgage loan.
Master Limited Partnership (MLP) - A publicly traded partnership involved in real estate and natural resource investment.
Monthly Operating Expenses - The recurring costs associated with operating a property, such as utilities and maintenance.
Mortgage Lien Release - A document that releases a property from a mortgage lien after the loan is paid off.
Market Research - Gathering and analyzing data on real estate market trends and economic indicators.
Mortgage Prequalification Letter - A document indicating that a borrower is preliminarily qualified for a mortgage loan.
Marketable Title Insurance - A policy that protects the property owner against any defects in the title.
Maintenance Reserve Fund - A reserve set aside to cover future property maintenance and repair costs.
Manufactured Housing Community - A planned community for manufactured homes with shared amenities.
Mortgage Rate Lock - A lender's guarantee to maintain a specific interest rate for a set period while the loan is processed.
Mortgage Satisfaction - A document stating that a mortgage loan has been paid in full and the lien released from the property.
Mortgage Note Buyer - An investor who purchases mortgage notes from lenders or other note holders.
Manufactured Home Park - A community with spaces for placing manufactured homes owned by individual occupants.
Multiple Listing Service (MLS) Agreement - A contract between a real estate agent and the MLS to list properties.
Market Value Appraisal - An assessment of a property's value based on recent sales of similar properties.
Mortgage Assignment - Transferring the mortgage and its obligations from one lender to another.
Master-Planned Development - A large-scale, comprehensive community development with various property types.
Mortgage Due on Sale Clause - A provision requiring full loan repayment when a property is sold or transferred.
Manufactured Home Loan - A mortgage specifically designed for financing the purchase of a manufactured home.
Mortgage Brokerage Fee - A fee paid to a mortgage brokerage for their services in securing a mortgage loan.
Mortgage Processing - The steps taken by a lender to assess and approve a mortgage loan application.

N

NAR (National Association of Realtors): The largest trade association for real estate agents and professionals in the United States.
Negative Amortization: A situation where the mortgage payments are not sufficient to cover the interest, resulting in the loan balance increasing over time.
Net Income: The income generated from a property after deducting all expenses, such as taxes, maintenance, and insurance.
Net Lease: A lease agreement where the tenant is responsible for paying a portion or all of the property expenses, including taxes, insurance, and maintenance, in addition to the rent.
NOI (Net Operating Income): The total income generated from a property after deducting operating expenses but before mortgage payments and taxes.
Non-conforming Loan: A mortgage that does not meet the guidelines set by Fannie Mae and Freddie Mac.
Non-disclosure: Failure to disclose pertinent information about a property, which can lead to legal issues.
Notary Public: A person authorized to witness and certify signatures on legal documents.
Notice to Vacate: A written notice from the landlord to the tenant, requesting them to vacate the property within a specified period.
Nuisance: A condition or activity that interferes with the use and enjoyment of a property, potentially leading to legal action.
Niche Market: A specialized segment of the real estate market, catering to specific needs or preferences.
Niche Property: A unique or specialized property that may have limited appeal to the general market.
NNN (Triple Net Lease): A lease agreement where the tenant is responsible for paying all property expenses, including taxes, insurance, and maintenance, in addition to rent.
National Housing Act: A federal law that established the Federal Housing Administration (FHA) to improve housing conditions and provide home financing options.
Neighborhood: A specific geographical area where properties share common characteristics and features.
Non-recourse Loan: A loan that does not hold the borrower personally liable for any shortfall in case of default, with the property serving as the sole collateral.
Net Listing: A listing agreement where the agent's commission is the excess amount received above the seller's desired sale price.
Net Worth: The difference between a person's assets and liabilities, often used to assess financial health and creditworthiness.
Nominal Interest Rate: The stated interest rate on a loan or investment, not accounting for compounding.
Non-Disturbance Clause: A clause in a lease agreement that protects the tenant's rights in case the property changes ownership or faces foreclosure.
Non-Recourse Mortgage: A type of mortgage where the borrower is not personally liable for repayment; the lender can only seize the property as collateral.
Negotiation: The process of discussing and reaching an agreement on terms, such as price and conditions, between buyers and sellers.
Notarize: The act of having a document certified by a notary public as a legitimate and voluntary signature.
Nonhomogeneity: A characteristic of real estate where no two properties are identical due to various factors like location, design, and age.
Niche Development: A real estate development that caters to a specific market segment or demographic.
Non-Recourse Finance: A financing arrangement where the lender's recourse is limited to the asset being financed and not the borrower's personal assets.
Negative Cash Flow: A situation where the expenses of a property exceed the income it generates.
NOL (Net Operating Loss): The result of deductible expenses being greater than the income generated from a property, resulting in a loss for tax purposes.
Negative Equity: The situation where the outstanding balance on a property's mortgage is higher than its market value.
New Home Warranty: A warranty offered by builders to cover potential defects in a newly constructed home for a specified period.
Note: A written promise to repay a debt, typically outlining the terms of the loan, including interest rate and repayment schedule.
Notice of Default: A formal notice sent by a lender to a borrower, stating that they have not met the terms of the loan, typically regarding missed mortgage payments.
Natural Vacancy Rate: The normal percentage of unoccupied rental properties in a given area, unaffected by seasonality or market conditions.
Neighborhood Analysis: An evaluation of a neighborhood's characteristics, including demographics, crime rates, schools, and amenities, to determine its desirability for investment.
National Association of Real Estate Brokers (NAREB): An organization that represents African American real estate professionals and advocates for fair housing practices.
National Affordable Housing Act: A federal law that aimed to increase affordable housing options and improve housing conditions for low-income families.
National Housing Market: The overall real estate market across the entire country, which can vary based on economic conditions and other factors.
National Association of Home Builders (NAHB): A trade association representing home builders and developers in the United States.
National Association of Real Estate Investment Trusts (NAREIT): An association representing Real Estate Investment Trusts (REITs) and publicly traded real estate companies.
Net Listing Agreement: A controversial type of listing agreement where the agent's commission is the amount received above the seller's desired sale price.
Non-Performing Asset: A property or investment that fails to generate the expected return or income.
Non-Traditional Mortgage: A mortgage that does not conform to standard underwriting guidelines, often offered to borrowers with unique financial situations.
Negative Pledge: A clause in a loan agreement where the borrower agrees not to use the property as collateral for other loans.
New Urbanism: An urban planning movement that emphasizes walkable neighborhoods, mixed-use developments, and sustainable design.
Non-Cash Expense: An expense that does not involve an actual cash outflow, such as depreciation.
Non-Resident: A person who does not reside in a particular country or location but owns property there.
Not In My Backyard (NIMBY): A term used to describe residents' opposition to new development or projects in their neighborhood.
Non-Homestead Property: Real estate that is not used as a primary residence and is subject to different tax rates.
Non-Binding Offer: A proposal made by a buyer or seller that is not legally binding until all parties agree to the terms and sign a formal contract.
Non-Resident Alien: A foreign individual who does not have permanent residency status in a particular country but may still own property there.
Negative Outlook: An assessment by a credit rating agency indicating that a property or investment's future performance may be less favorable.
Notice of Intent to Foreclose: A formal notice sent to a borrower when the lender is considering foreclosure proceedings due to loan default.
Non-Warrantable Condo: A condominium that does not meet the requirements for conventional mortgage financing, often due to certain characteristics or ownership structures.
No Cash-Out Refinance: A type of mortgage refinance where the new loan amount only covers the outstanding balance, without providing additional cash to the borrower.
Notary Block: The section of a document reserved for the notary public's official stamp and signature.
Niche Marketing: Targeting a specific market segment or audience in real estate advertising and promotions.
Non-Housing Debt: Debt that is unrelated to real estate, such as credit card debt or personal loans.
Nondisturbance Agreement: A legal agreement that ensures a tenant's rights will be protected in case the property's ownership changes or faces foreclosure.
Niche Property Investment: Investing in specialized properties, such as student housing, senior living facilities, or vacation rentals.
National Credit Union Administration (NCUA): The federal agency that regulates and supervises credit unions in the United States.
Non-Qualifying Assumable Mortgage: A mortgage that can be transferred to a new borrower without meeting the lender's underwriting requirements.
Non-Owner Occupied Property: A property that is not the primary residence of the owner and is often used for rental income or investment purposes.
Non-Recourse Liability: A liability that limits the creditor's claim to specific collateral and does not hold the debtor personally responsible for repayment.
No Prepayment Penalty: A clause in a loan agreement that allows borrowers to pay off the loan early without incurring additional fees.
Non-Contingent Offer: A purchase offer without any conditions or contingencies, providing a more straightforward transaction.
Notice of Completion: A document filed by a contractor or property owner to signify the end of construction or renovation work.
Non-Circumvention Clause: A clause in a contract that prevents one party from bypassing the other and directly dealing with third parties involved in the transaction.
Non-Current Assets: Assets, such as real estate, expected to provide long-term benefits to the owner.
Non-Traditional Property Investment: Investing in real estate assets that do not fit traditional residential or commercial categories, such as storage units or parking spaces.
Non-Bank Lender: A lending institution that is not a traditional bank, such as a credit union or private lender.
No-Fee Mortgage: A mortgage loan that does not charge an application fee, processing fee, or other upfront costs.
Non-Accrual Loan: A loan where the borrower is not making interest payments, and the lender is not accruing interest income.
Non-Discrimination Laws: Legal regulations that prevent discrimination based on race, color, religion, sex, or other protected characteristics in housing practices.
Non-Cancelable Lease: A lease agreement that cannot be terminated by either party before the end of the lease term.
Niche Property Management: Managing specialized properties, such as vacation rentals or affordable housing, that require unique expertise.
Non-Disturbance, Non-Interference, and Attornment Agreement (NNDIA): An agreement signed by a tenant, landlord, and lender to protect the tenant's rights during a property foreclosure.
Non-Delegable Duty: A legal obligation that cannot be transferred or delegated to another party, such as the duty of care by a property owner.
Non-Income Producing Property: Real estate that does not generate rental income, such as vacant land or a second home.
Non-Recourse Loan: A loan that does not hold the borrower personally liable for repayment; the lender can only seize the property as collateral.
Non-Performing Loan: A loan where the borrower is behind on payments, increasing the risk of default.
Non-Residential Property: Real estate intended for commercial, industrial, or institutional use rather than residential purposes.
Non-Correspondent Lender: A lender that originates loans but does not service them; the loans are sold to another institution.
Non-Assignable Contract: A contract that explicitly prohibits its assignment to another party without consent.
Non-Solicitation Clause: A clause in a contract that prevents one party from actively seeking the other party's clients or employees.
Nondisturbance and Attornment Agreement (NAA): An agreement signed by a tenant and a new property owner, ensuring the tenant's rights are protected during property ownership changes.
Non-Binding Letter of Intent (LOI): A preliminary agreement between parties that outlines the terms of a proposed real estate transaction, subject to further negotiation and formalization.
Non-Monetary Default: A situation where a tenant violates the lease terms in a way that is not related to non-payment of rent.
Non-Disclosed Defect: A hidden flaw or issue in a property that the seller failed to disclose to the buyer.
Non-Cancellable Insurance: An insurance policy that cannot be canceled by the insurer unless there is a clear breach of contract by the insured.
Non-Competition Agreement: A contract where one party agrees not to compete with another party's business within a specified geographical area for a defined period.
Non-Profit Housing Organization: An organization dedicated to providing affordable housing options and serving the community's housing needs without profit motives.
Non-Bank Financial Institution (NBFI): A financial institution that provides banking services but is not a licensed bank.
Non-Qualifying Mortgage: A type of mortgage loan that does not require the borrower to meet traditional lending criteria, often used for self-employed individuals or those with non-standard income sources.
Non-Liquid Asset: An asset that cannot be quickly converted into cash without a significant loss of value.
Non-Occupant Co-Borrower: A person who is on a mortgage loan but does not live in the property, often used to help a borrower qualify for a larger loan amount.
Non-Exempt Property: Assets that can be used to satisfy creditors' claims in case of bankruptcy.
Non-Corresponding Numbers: In real estate, when the house number on one side of the street does not match the corresponding number on the other side.
Non-Judicial Foreclosure: A foreclosure process that does not require court involvement, typically allowed in states with deed of trust laws.
Non-Conforming Use: A property use that does not comply with current zoning regulations but is allowed to continue due to its existence before the zoning change.
Non-Habitual Resident Scheme: A tax program in some countries that offers tax incentives to attract foreign residents.

O

Occupancy Rate: The percentage of occupied rental units or properties in a specific area or building.
Offer: A proposal made by a potential buyer to purchase a property at a specified price and terms.
Off-Market: A property that is not actively listed for sale on the public market but may still be available for purchase.
Open House: A scheduled event where a property is open to the public for viewing without an appointment.
Option: A contractual right that grants a potential buyer the opportunity to purchase a property within a specified time frame and at a predetermined price.
Origination Fee: A fee charged by a lender to cover the cost of processing a mortgage or loan application.
Owner Financing: A financing arrangement where the seller provides the financing to the buyer, acting as the lender.
Ownership: Legal possession and control of a property, either through purchase, inheritance, or other means.
Overage: A clause in a contract that grants the seller a share of any future increase in the property's value.
Open Listing: A non-exclusive listing agreement where the seller can work with multiple real estate agents and is only obligated to pay a commission to the agent who brings a successful buyer.
Option Period: The time frame during which a buyer has the right to exercise an option to purchase a property.
Overhang: The number of unsold properties in a market, including new constructions, that are available for sale but have not yet been purchased.
Operating Expenses: The ongoing costs associated with owning and managing a property, such as taxes, insurance, maintenance, and utilities.
Original Principal Balance: The initial amount borrowed on a mortgage or loan before any repayments or interest accrual.
Overimprovement: An improvement or renovation made to a property that exceeds the value it adds.
Opportunity Cost: The potential benefits lost when choosing one investment or course of action over another.
Owner-Occupied: A property where the owner resides and lives as their primary residence.
Option Fee: A fee paid by a buyer to the seller to secure an option to purchase a property within a specified time frame.
Off-Peak Season: A period of reduced demand in the real estate market, often resulting in lower prices and fewer transactions.
Overcapitalization: When an investor spends more money on property improvements than can be justified by the property's potential increase in value.
Open-End Mortgage: A mortgage that allows the borrower to access additional funds beyond the original loan amount without obtaining a new loan.
Offer to Purchase: A written proposal made by a potential buyer to purchase a property under specific terms and conditions.
Option Agreement: A legal contract that grants the holder the right to purchase a property at a predetermined price within a specified time frame.
Office Building: A commercial property primarily used for business and administrative purposes.
Open Space: Land or areas left undeveloped for recreational or conservation purposes.
Overriding Royalty Interest (ORRI): A percentage share of revenue from oil and gas production paid to a person or entity that does not own the mineral rights.
Occupancy Date: The date when a buyer or tenant can move into a property after completing the purchase or lease process.
Offset Mortgage: A type of mortgage that links a borrower's savings or current account to the mortgage balance, reducing the interest paid on the loan.
Owner's Policy: A type of title insurance that protects the property owner from any title issues that may arise.
Open-Listing Agreement: A listing agreement that allows the seller to work with multiple real estate agents, and only the agent who finds the buyer receives a commission.
Office Park: A cluster of office buildings and commercial properties situated together in a planned development.
Operating Income: The total income generated from a property before deducting operating expenses.
Origination Points: Fees paid to the lender or broker for originating a mortgage loan.
Owner-Builder: A person who acts as the general contractor and oversees the construction of their own property.
Occupied Space: The portion of a building or property that is currently leased or being used by a tenant or owner.
Owner's Title Policy: Title insurance that protects the property owner from any title issues that may arise.
Owner Financing Terms: The specific conditions, interest rate, and payment schedule established when the property owner provides financing to the buyer.
One-Time Close Construction Loan: A type of construction loan that covers both the construction phase and the permanent mortgage once the project is completed.
Owner-Occupancy Requirement: A condition imposed by a homeowners' association or lender, mandating that a certain percentage of units in a property must be occupied by the owners.
Overage Clause: A provision in a contract that entitles the seller to a share of any future increase in the property's value.
On-Site Improvements: Improvements made directly to the property, such as landscaping, pools, or driveways.
Origination Process: The process of applying for and obtaining a mortgage or loan, including underwriting and approval.
On-Site Manager: A property manager who resides on the property and oversees its day-to-day operations.
Offer Letter: A letter from a potential buyer to the seller, expressing the buyer's interest in purchasing the property and outlining the proposed terms.
Open Mortgage: A mortgage that allows the borrower to repay the loan in full or partially before the end of the loan term without incurring a penalty.
Operating Expense Ratio: The ratio of operating expenses to the property's gross income, used to assess its financial performance.
Owner-Builder Construction Loan: A type of loan provided to an owner who acts as the general contractor for their own construction project.
Origination Fee: A fee charged by a lender or mortgage broker to cover the cost of processing a loan application.
Open-Ended Lease: A lease agreement with no predetermined end date, allowing either party to terminate the lease with proper notice.
Occupancy Certificate: A document issued by the local government certifying that a building or property meets the necessary building codes and is suitable for occupancy.
Open Mortgage Clause: A provision in an insurance policy that allows the policyholder to change the mortgagee without invalidating the coverage.
Owner-Occupied Housing: Housing units occupied by the owner as their primary residence.
Office Condo: A commercial property that is individually owned by businesses for their own use within a larger office building.
Open Space Preservation: The conservation and protection of undeveloped land for public use or environmental purposes.
Office Space: Commercial property used for office and administrative purposes, available for lease or purchase.
Occupancy Cost: The total expenses associated with occupying a property, including rent, utilities, and maintenance.
Off-Plan: The purchase of a property before its construction is completed, based on architectural plans and design.
Office Suite: A set of interconnected office spaces within a larger building, often used by a single tenant or business.
Overage Agreement: A contractual agreement that entitles the seller to a share of any future increase in the property's value.
Off-Take Agreement: A contract between a producer and a buyer that obligates the buyer to purchase the producer's future output at a predetermined price.
Open-Ended Loan: A loan with no predetermined repayment term, allowing the borrower to borrow and repay as needed.
Operating Reserve: A fund set aside to cover unexpected operating expenses or emergencies in a property.
Optionee: The party who holds an option to purchase a property.
Open Market Value: The estimated value of a property in an open and competitive market.
Offset Account: A savings or current account linked to a mortgage, with the balance offsetting the loan amount and reducing the interest payable.
Offshore Property: A property located in a foreign country, often owned by non-resident investors.
Opportunity Zone: A designated area eligible for tax benefits and incentives to attract investments and economic development.
Open Perils Policy: An insurance policy that covers all types of perils except for those specifically excluded.
Owner-Builder Construction: When a property owner acts as the general contractor for their own construction project.
Overimprovement Risk: The risk that property improvements exceed the potential increase in property value.
Overimprovement Cost: The cost of property improvements that exceed the potential increase in property value.
Off-Market Sale: The sale of a property without being listed on the public market.
Original Cost: The initial cost of acquiring a property or asset.
Operating Partner: A partner in a real estate investment who actively manages and oversees the property's operations.
Owner-Occupied Property: A property that the owner uses as their primary residence.
Owner's Equity: The owner's financial interest in a property, calculated as the property's value minus outstanding mortgage debt.
Offer Price: The price at which a buyer offers to purchase a property.
Open-end Lease: A lease agreement that allows the lessee to extend the lease term beyond the initial agreed-upon period.
Owner's Representative: A person or entity acting on behalf of the property owner, overseeing construction or renovation projects.
Owner-Carry Mortgage: A financing arrangement where the seller provides the financing to the buyer, acting as the lender.
Offshore Real Estate Investment: Investing in real estate located in a foreign country.
Off-Grade: A property or structure that is built below ground level.
Open Listing Agreement: A non-exclusive listing agreement that allows the seller to work with multiple real estate agents and pay a commission only to the agent who successfully finds a buyer.
Owner: The legal owner or holder of title to a property.
Open-House Showing: A scheduled event where a property is open to the public for viewing without an appointment.
Owner's Title Insurance: A type of title insurance that protects the property owner from any title issues that may arise.
Owner-Occupied Housing Units: Housing units where the owner resides as their primary residence.
Operating Expenses Ratio: The ratio of operating expenses to a property's gross income, used to assess its financial performance.
Overbuilding: A situation where there is an excess supply of properties, leading to decreased demand and potentially lower property values.
Open-end Mortgage: A mortgage that allows the borrower to borrow additional funds without obtaining a new loan.
Overcapitalization Risk: The risk that improvements made to a property do not yield a sufficient return on investment.
Offshore Company: A company registered and operating in a foreign country to conduct real estate transactions or investment.
Original Sale Price: The price at which a property was first sold, used for comparison with its current value.
Owner-Occupancy Rate: The percentage of owner-occupied housing units in a specific area or development.
Owner-Occupied Housing Stock: The total number of housing units occupied by their owners.
Open-Ended Investment Company: A type of investment company that can issue and redeem shares at any time.
Offer to Lease: A proposal made by a potential tenant to lease a property at specific terms and conditions.
Opportunity Cost of Capital: The return or benefits forgone when choosing one investment over another.
Occupied Property: A property that is currently being rented or used by a tenant.
Overage Payment: A payment made to the seller based on the overage clause in a contract when the property's value increases.

P

Passive Income: Money earned from real estate investments without active involvement.
Pocket Listing: A property for sale that is not publicly listed but shared privately with potential buyers.
Power of Attorney: Legal authorization granted to someone to act on behalf of another in real estate transactions.
Plottage: Combining adjacent parcels to create a larger, more valuable property.
Plat Map: A map showing the division and layout of a property, typically used for planning and zoning purposes.
Pre-approval: A lender's written commitment to grant a mortgage to a borrower for a specific amount, subject to conditions.
Prepayment Penalty: A fee imposed on a borrower for paying off a mortgage before the specified term ends.
Price-to-Rent Ratio: A metric used to compare the cost of buying versus renting a property in a given area.
Principal: The original amount borrowed in a mortgage, excluding interest.
Property Tax: A tax levied on the value of a property, paid by the owner to the local government.
Private Mortgage Insurance (PMI): Insurance paid by a borrower to protect the lender in case of loan default, typically required for low down payment mortgages.
Point: A fee paid to a lender equal to 1% of the loan amount to reduce the interest rate.
Pro Forma: Financial projections for a real estate investment based on potential future performance.
Property Manager: A person or company hired to oversee and manage rental properties on behalf of the owner.
Probate Sale: The sale of a property owned by a deceased person's estate.
Property Line: The legal boundary between two adjacent properties.
Purchase Agreement: A legally binding contract outlining the terms and conditions of a property sale.
Percolation Test: A test to determine the soil's ability to absorb water, crucial for septic system installations.
Public Auction: A sale of a property to the highest bidder in a public setting.
Plat: A map or survey that shows the layout and division of a piece of land into individual lots or parcels.
Property Appraisal: A professional assessment of a property's value, conducted by an appraiser.
PITI: Abbreviation for Principal, Interest, Taxes, and Insurance – components of a mortgage payment.
Primary Residence: The main home where an individual lives and considers their official address.
Partial Release: A clause allowing a borrower to free a portion of collateral from a mortgage lien.
Price Range: The range of prices within which a buyer is willing to consider properties.
Pre-foreclosure: The period before a property is seized in foreclosure, during which the owner may sell to avoid foreclosure.
Promissory Note: A legal document that outlines the terms of a loan and the borrower's promise to repay.
PUD (Planned Unit Development): A real estate development with a mix of residential and commercial units, incorporating open spaces and shared amenities.
Public Record: Official records of real estate transactions and ownership maintained by government agencies.
Principal Residence Exemption (PRE): A tax exemption for the primary residence in some jurisdictions.
Property Disclosure Statement: A document that reveals a property's condition and potential issues to potential buyers.
Property Insurance: Insurance coverage that protects a property and its contents against damage and loss.
Party Wall: A shared wall between two attached properties, usually part of a townhouse or condominium.
Punch List: A list of items that need to be completed or corrected in a construction project before final acceptance.
P&L (Profit and Loss Statement): A financial statement showing a property's income and expenses over a specific period.
Primary Market: The market where new properties are initially sold, often by developers.
Plat Book: A collection of recorded plat maps within a county or jurisdiction.
Prorated Taxes: Property taxes divided proportionally between the buyer and seller based on their ownership periods.
Property Title: Legal ownership and right to use a property.
Partition: Legal division of property among co-owners, often through a court proceeding.
Prequalification: An informal assessment of a borrower's eligibility for a mortgage based on basic financial information.
Public Improvements: Infrastructure enhancements made by the government that benefit an entire community or area.
Physical Deterioration: The decrease in a property's condition over time due to wear and tear.
Participation Mortgage: A loan where the lender receives a share of the property's profits in addition to interest payments.
PUD Rider: An addendum to a mortgage agreement for properties in a Planned Unit Development.
Predatory Lending: Unscrupulous lending practices that exploit borrowers through deceptive terms and high fees.
Property Code: Local regulations governing property use, construction, and safety standards.
Probate: The legal process of validating a will and settling a deceased person's estate.
Portfolio Lender: A lender who originates loans for their own investment portfolio, rather than selling them on the secondary market.
Protective Covenant: A restriction placed on a property's use to preserve its value and appeal.
Prepaid Expenses: Costs paid by a buyer at closing in advance, such as property taxes and insurance premiums.
Package Mortgage: A loan that includes both real estate and personal property as collateral.
Price Negotiation: The process of discussing and agreeing on the final sale price of a property.
Price Ceiling: The maximum price a seller is willing to accept for a property.
Purchase Money Mortgage: A loan used to buy a property, with the property itself serving as collateral.
Public Offering Statement: A document disclosing essential information about a condominium development to potential buyers.
Property Profile: A report containing information about a specific property's history, ownership, and characteristics.
Property Survey: A professional measurement and mapping of a property's boundaries and features.
Passive Loss: Losses from a rental property or real estate investment that cannot be deducted against other income.
Partial Payment: A payment made for less than the full amount due, often applied to delinquent mortgages.
Positive Cash Flow: When a property's rental income exceeds its expenses, resulting in profit.
Public Easement: The right of the public to access and use specific parts of a property, such as a sidewalk.
Property Lien: A legal claim on a property to secure a debt, such as a mortgage.
Personal Guarantee: A promise made by an individual to assume responsibility for a loan if the borrower defaults.
Projected Income: Estimated future income from a property based on potential rental rates and occupancy levels.
Property Profile Report: A comprehensive report detailing the history, ownership, and characteristics of a property.
Property Management Agreement: A contract between an owner and property manager outlining their responsibilities and fees.
Priority Lien: A lien with a higher ranking than other liens, which receives payment first during foreclosure or sale.
Property Tax Assessment: The process of determining a property's value for taxation purposes.
Prepayment Clause: A provision in a mortgage contract allowing the borrower to pay off the loan before its term ends.
Primary Mortgage Market: The initial marketplace where borrowers obtain mortgage loans directly from lenders.
Private Placement: The sale of securities to a small group of private investors rather than the public.
Promissory Estoppel: A legal doctrine enforcing a promise made in a real estate transaction, even without a formal contract.
Property Cycle: The pattern of rising and falling property values over time.
Property Management Company: A firm that specializes in managing rental properties on behalf of property owners.
Participation Loan: A loan where multiple lenders share the risk and returns of the investment.
Prepaid Interest: Interest paid by a borrower at closing to cover the period between the loan origination and the first mortgage payment.
Predatory Loan Terms: Unfair loan conditions that exploit borrowers' lack of knowledge or financial vulnerability.
Price Per Square Foot: A metric used to compare the value of properties based on their size.
Prepayment Risk: The risk that borrowers may refinance or prepay their mortgage, impacting expected returns for investors.
Property Owner's Association (POA): An organization that manages and enforces rules for a community of homeowners or property owners.
Payment Cap: A limit on how much a borrower's mortgage payment can increase during an adjustable-rate mortgage period.
Physical Occupancy: The actual occupancy status of a property, as opposed to the legal right of possession.
Purchase-Money Mortgage (PMM): A mortgage issued to a buyer by the seller to finance the property purchase.
Property Tax Deduction: An allowance for homeowners to deduct property taxes from their taxable income.
Prepayment Premium: A fee charged for paying off a mortgage early to compensate for lost interest.
Private Placement Real Estate Fund: An investment vehicle where private investors pool money for real estate ventures.
Purchase Contract: A legal agreement between a buyer and seller detailing the terms of a property sale.
Personal Property: Movable items that are not permanently attached to a property and can be legally removed by the owner.
Property Market Analysis: An evaluation of current market conditions to determine a property's potential value and demand.
Property Tax Lien: A legal claim against a property for unpaid property taxes.
Prima Facie: Accepted as true until proven otherwise, often used in real estate disputes.
Property Specific Risk: Risks associated with a particular property's location, condition, or legal issues.
Public Records Search: An investigation into a property's history, ownership, and legal status through public records.
Property Insurance Premium: The cost paid by a property owner for insurance coverage.
Purchase Money Security Interest (PMSI): A security interest taken by a lender to secure a loan used to buy specific assets, such as real estate.
Plat of Survey: A drawing showing the property's boundaries, structures, and improvements.
Property Investment Trust (PIT): A form of real estate investment trust (REIT) that focuses on property holdings.
Promissory Note Modification: An agreement to change the terms of a promissory note, such as the interest rate or payment schedule.
Property Tax Rate: The percentage used to calculate the property tax owed based on the assessed value.

Q

Qualifying Ratio: A calculation used by lenders to determine a borrower's ability to repay a mortgage, comparing the borrower's income to debt obligations.
Qualifying Tenant: A tenant who meets the landlord's criteria for renting a property, such as creditworthiness and income level.
Qualified Intermediary: A neutral third party involved in a 1031 exchange to facilitate the tax-deferred exchange of like-kind properties.
Qualified Mortgage (QM): A type of mortgage that meets specific requirements established by the Consumer Financial Protection Bureau (CFPB) to ensure borrower's ability to repay.
Quiet Enjoyment: The right of a tenant to peacefully and without interference use and enjoy the rented property.
Quiet Title: A legal action to establish clear ownership of a property and remove any competing claims or liens.
Quitclaim Deed: A legal instrument used to transfer a property owner's interest in real estate without providing any warranties or guarantees.
Quote: An estimate provided by a contractor or service provider for the cost of real estate-related services or repairs.
Qualifying Period: The time frame during which a property owner or tenant must meet specific conditions to avail certain benefits or services.
Quality of Title: The degree of marketability and certainty of a property's ownership rights and title.
Quantity Surveyor: A professional who estimates and manages construction costs and quantities of materials on a project.
Quasi-Easement: A situation where a property owner has used a neighboring property for a specific purpose for an extended period, creating an implied right to continue the use.
Quiet Zone: An area near train tracks or railroad crossings where train horns are prohibited or limited to reduce noise pollution.
Quick Deed: An informal term for a quitclaim deed used to quickly transfer property interests.
Quick Sale: A property sale that happens rapidly, often due to a below-market price or an urgent need to sell.
Quoin: Decorative masonry or stone used to reinforce building corners.
Quadruplex: A building with four separate living units or apartments.
Qualified Appraiser: An individual authorized to perform real estate appraisals meeting specific criteria set by professional organizations or regulatory bodies.
Quick Ratio: A financial metric used by lenders to evaluate a borrower's liquidity, including cash and liquid assets relative to short-term liabilities.
Quoted Rate: The interest rate a lender offers to a borrower for a mortgage or loan.
Quantity Rights: The amount of development or construction allowed on a property, often regulated by zoning laws.
Quarter Section: A unit of land measurement representing one-fourth of a section, typically equal to 160 acres.
Quantum Meruit: A Latin term meaning "as much as he has deserved," referring to the reasonable value of services provided in the absence of a specific contract or agreement.
Quadrilateral Survey System: A land surveying method using straight lines to define property boundaries.
Qualified Opportunity Zone: A designated economically distressed area where investors can receive tax benefits for investing in real estate or businesses.
Quality Control: A process implemented to ensure the excellence and accuracy of construction or property management.
Quinquennial Valuation: A property valuation conducted every five years for taxation purposes.
Quiescence Period: The time during a foreclosure process when the borrower is allowed to redeem the property by paying off the outstanding debt.
Quiet Title Action: A legal procedure to settle disputes and establish clear ownership of a property.
Quit Rent: A periodic payment made to a landlord or superior owner in exchange for use and occupancy of the property.

R

Rate Lock: An agreement between a borrower and a lender to fix the interest rate on a mortgage for a specific period, usually until the loan closes.
Real Estate Agent: A licensed professional who represents buyers or sellers in real estate transactions and helps negotiate deals.
Real Property: Land and anything permanently attached to it, including buildings, trees, and minerals.
Recession: A period of economic decline when the gross domestic product (GDP) decreases for two consecutive quarters.
Refinancing: The process of replacing an existing mortgage with a new one, typically to get a lower interest rate or better terms.
REIT (Real Estate Investment Trust): A company that owns, operates, or finances income-generating real estate, allowing investors to buy shares and receive dividends.
Repossession: The act of taking back a property by a lender or creditor due to loan default.
Right of Way: A legal right granted to someone to pass through another person's property.
Real Estate Owned (REO): Properties owned by a lender or bank after foreclosure.
Ranch Style: A one-story house with a long, low roofline and a simple, open floor plan.
Renovation: The process of improving or updating a property to increase its value or appeal.
Rental Agreement: A contract between a landlord and tenant outlining the terms and conditions of renting a property.
Rental Income: The money earned from leasing a property to tenants.
Return on Investment (ROI): A measure of profitability, calculated by dividing the gain from an investment by its cost.
Right of Survivorship: A legal arrangement where, upon the death of a co-owner, the surviving owner(s) automatically inherit the deceased owner's share.
Rent Control: Government regulations limiting the amount landlords can charge for rent.
Realtor®: A real estate professional who is a member of the National Association of Realtors and abides by a strict code of ethics.
Real Estate Bubble: An economic phenomenon where property prices rise quickly to unsustainable levels, followed by a rapid decline.
Reverse Mortgage: A loan available to older homeowners that allows them to convert a portion of their home equity into cash.
Rental Property: A property owned by an investor and leased to tenants for rental income.
Raw Land: Undeveloped land without any structures or improvements.
Real Estate Development: The process of acquiring, improving, and selling or leasing land or property for various purposes.
Rent-to-Own: A lease agreement that includes the option for the tenant to purchase the property at a predetermined price after a specific period.
Rate of Return: The percentage of profit or loss on an investment relative to its cost.
Right to Buy: A government scheme that allows eligible tenants to buy their rented home at a discounted price.
Real Estate Syndication: A pooling of funds from multiple investors to acquire or develop real estate projects.
Resale Value: The estimated value of a property when it's sold after a certain period.
Reconveyance: The transfer of property title back to the borrower after a mortgage is fully repaid.
Real Estate Portfolio: A collection of investment properties owned by an individual or company.
Real Estate Transfer Tax: A tax imposed on the transfer of real property from one party to another.
Rental Yield: The percentage return on an investment property, calculated by dividing the annual rental income by the property's value.
Real Estate Brokerage: A firm or company that employs real estate agents and facilitates real estate transactions.
Real Estate Cycle: The recurring pattern of growth, decline, and recovery in the real estate market.
Rental Application: A form filled out by prospective tenants to provide personal information and rental history to landlords.
Roof Pitch: The angle or slope of a roof.
Riparian Rights: The rights of a property owner to use and enjoy water from a natural water source that runs through or borders their property.
Real Estate Investment: The purchase of property with the goal of generating income or capital appreciation.
Residential Property: A property used for residential purposes, such as a house, condo, or apartment.
Real Estate Appraisal: An assessment of the value of a property conducted by a licensed appraiser.
Rental Vacancy Rate: The percentage of vacant rental units in a particular area or property.
Recourse Loan: A loan where the lender can seek repayment from the borrower's assets if they default.
Real Estate Market Analysis: An evaluation of current real estate market conditions and trends to determine property values and investment potential.
Repayment Plan: A structured schedule for borrowers to catch up on missed mortgage payments.
Real Estate Equity: The difference between a property's market value and the outstanding mortgage balance.
Real Estate Investment Group: An organization that pools funds from multiple investors to buy and manage properties as a collective.
Real Estate Settlement Procedures Act (RESPA): A federal law that requires lenders to provide borrowers with specific information about the costs of obtaining a mortgage.
Right of Redemption: The legal right of a borrower to reclaim their property after a foreclosure sale by repaying the debt and associated costs.
Real Estate Escrow: A neutral third party that holds funds and documents during a real estate transaction until all conditions are met.
Real Estate Capital Gains: The profits realized from selling an investment property at a higher price than its purchase price.
Realty Transfer Fee: A tax or fee charged by state or local governments when transferring property ownership.
Real Estate Holding Company: A company created to own and manage real estate assets on behalf of its shareholders.
Real Estate Agent Commission: The fee paid to a real estate agent for their services in a property transaction.
Real Estate Investor: An individual or entity that purchases real estate for financial gain through rental income, appreciation, or both.
Real Property Law: The legal rules and regulations governing the ownership, use, and transfer of real estate.
Residual Value: The estimated value of a property or asset at the end of its useful life.
Real Estate Zoning: The division of land into zones or districts with specific regulations regarding the types of structures and activities allowed.
Real Estate Market Value: The current worth of a property based on its market conditions and comparable sales.
Renter's Insurance: An insurance policy that provides coverage for a tenant's personal belongings and liability.
Real Estate Terms Glossary: A comprehensive list of real estate terminology and definitions.
Real Estate Public Auction: A sale of property to the highest bidder in a public setting.
Real Estate Development Loan: A loan used to finance the construction or development of real estate projects.
Real Estate Due Diligence: The process of investigating a property or investment opportunity to verify its legal, financial, and physical condition.
Rental Agreement Addendum: A supplementary document attached to a rental agreement, detailing specific terms or conditions.
Real Estate Property Management: The operation and oversight of rental properties on behalf of the owner.
Real Estate Capitalization Rate (Cap Rate): The ratio of net operating income to property value, used to evaluate investment opportunities.
Real Estate Multiple Listing Service (MLS): A database used by real estate agents to share property listings and cooperate on transactions.
Real Estate Deed: A legal document that transfers ownership of real property from one party to another.
Real Estate Holding Period: The length of time an investor owns a property before selling it.
Real Estate Title Insurance: An insurance policy that protects against loss due to defects in property ownership.
Real Estate Short Sale: The sale of a property for less than the amount owed on the mortgage, with the lender's approval.
Real Estate Joint Venture: A partnership between two or more parties to undertake a real estate project together.
Real Estate Equity Loan: A loan secured by the equity in a property, allowing the borrower to access cash.
Real Estate Distressed Property: A property in poor condition, often sold at a discount due to financial or legal issues.
Real Estate Marketable Title: A property title that can be easily sold or transferred to another party.
Real Estate Title Search: An investigation of public records to confirm the ownership and history of a property's title.
Real Estate Survey: A measurement and mapping of a property's boundaries and features.
Real Estate Easement: A right granted to use someone else's property for a specific purpose.
Real Estate Holding Period Return: The total return earned from an investment property during the holding period.
Real Estate Comparative Market Analysis (CMA): An evaluation of a property's value based on recent sales of similar properties in the same area.
Real Estate Walkthrough: A final inspection of a property by the buyer before closing to identify any issues or discrepancies.
Real Estate Gross Income: The total income generated from a property before deducting expenses.
Real Estate Offer: A formal proposal made by a buyer to purchase a property at a specific price and under certain terms.
Real Estate Probate Sale: The sale of a property owned by a deceased person's estate.
Real Estate Wholesaling: A strategy where an investor contracts a property and assigns the contract to another buyer for a fee.
Real Estate Cash Flow: The net income generated from a rental property after deducting expenses.
Real Estate Maintenance: The regular upkeep and repair of a property to preserve its value.
Real Estate Tax Lien: A claim placed on a property by the government for unpaid property taxes.
Real Estate Principal: The original amount borrowed in a mortgage loan.
Real Estate Comps: Comparable properties used to determine the value of a property.
Real Estate Dual Agency: When a real estate agent represents both the buyer and the seller in a transaction.
Real Estate Equity Buildup: The process of increasing equity in a property through mortgage payments and appreciation.
Real Estate Title Transfer: The legal process of transferring ownership of a property from one party to another.
Real Estate Net Operating Income (NOI): The total income generated from a property after deducting operating expenses.
Real Estate Purchase Agreement: A legally binding contract between a buyer and seller that outlines the terms of the property sale.
Real Estate Fair Housing Act: A federal law prohibiting discrimination in housing based on race, color, religion, sex, disability, familial status, or national origin.
Real Estate Appreciation: The increase in the value of a property over time.
Real Estate Market Trends: Patterns and changes in the real estate market, including supply and demand dynamics.
Real Estate Debt-to-Income Ratio (DTI): A financial measure used by lenders to assess a borrower's ability to repay a mortgage.
Real Estate Encumbrance: A claim or liability against a property, such as a lien or easement.
Real Estate Turnkey Property: A fully renovated and managed property ready for immediate occupancy or rental.

S

Sale: The transfer of property ownership in exchange for money or other consideration.
Seller: The individual or entity who owns the property and wishes to sell it.
Settlement: The final stage of a real estate transaction when ownership is officially transferred.
Survey: A professional examination and measurement of a property's boundaries and features.
Subdivision: The process of dividing a larger piece of land into smaller lots for development.
Short Sale: A sale where the property is sold for less than the outstanding mortgage balance.
Subletting: When a tenant rents out all or part of their rented property to another party.
Subprime Mortgage: A mortgage loan offered to borrowers with low credit scores.
Second Mortgage: A second loan taken out on a property, subordinate to the first mortgage.
Surveyor: A professional who conducts property surveys and determines boundary lines.
Single-Family Home: A detached dwelling designed for one family to live in.
Security Deposit: A sum of money paid by the tenant to the landlord to cover damages or unpaid rent.
Seller's Market: A market condition where there are more buyers than available properties.
Servicer: The company or entity responsible for collecting mortgage payments and managing the loan.
Strata Title: Ownership of individual units within a multi-unit building along with shared areas.
Structural Engineer: A professional who assesses a property's structural integrity.
Shared Appreciation Mortgage: A mortgage where the lender shares in the property's appreciation.
Statute of Frauds: A law that requires certain contracts, including real estate, to be in writing.
Statutory Lien: A legal claim on a property to secure debt repayment.
Settlement Statement: A document detailing all the costs and fees in a real estate transaction.
Sweat Equity: Improvements made to a property by the owner's labor rather than cash.
Section 1031 Exchange: A tax-deferred exchange of like-kind properties.
Special Assessment: A tax levied on properties to fund specific local improvements.
Staging: Preparing a property for sale to make it more appealing to potential buyers.
Seller Financing: When the seller provides financing to the buyer for the property purchase.
Shared Equity Mortgage: A mortgage where the lender shares in the property's equity.
Subrogation: The process where an insurer takes over a policyholder's rights to recover damages.
Spec Home: A home built by a developer without a buyer, intending to sell it later.
Sale-Leaseback: When a property owner sells and then leases back the same property.
Secured Loan: A loan backed by collateral, such as real estate.
Stigmatized Property: A property perceived as undesirable due to past events, like a crime.
Seller's Disclosure: A document in which the seller discloses known property defects.
Single Agency: Representation of either the buyer or the seller, but not both.
Soft Market: A market with few buyers and many properties available for sale.
Subordination Clause: A clause that changes the order of lien priority on a property.
Special Warranty Deed: A deed where the seller warrants against defects during their ownership only.
Seller Carryback: When the seller provides financing to the buyer for part of the purchase price.
Structural Defect: A flaw in a property's structure that affects its stability or safety.
Sale Price: The final agreed-upon price of the property in a sale.
Syndication: Pooling funds from multiple investors to purchase real estate collectively.
Sales Contract: A legally binding agreement between the buyer and seller for a property.
Setback: The distance between a property line and the building, set by local regulations.
Section 8 Housing: Federally subsidized housing for low-income individuals or families.
Short-Term Rental: Renting out a property for a brief period, often through platforms like Airbnb.
Survivorship: The right of joint tenants to inherit each other's share upon death.
Second Home: A property used for vacations or occasional use, not the primary residence.
Securitization: The process of pooling mortgages to sell them as securities to investors.
Stamp Duty: A tax levied on documents, including property deeds and mortgages.
Straight-Line Depreciation: A method to calculate the annual depreciation of a property.
Speculative Building: Constructing a property without a specific buyer or tenant in mind.
Seller's Market Analysis: An evaluation of a property's potential value in the current market.
Special Warranty: A guarantee by the seller against defects during their ownership, but not before.
Subordination Agreement: A document that changes the priority of liens on a property.
Seller Carry: Providing financing to the buyer for the entire purchase price.
Swing Loan: A short-term loan used to cover the gap between buying a new property and selling the old one.
Syndicate: A group of individuals or companies pooling resources for real estate investments.
Stilt Home: A house built on stilts, often in flood-prone areas or near water bodies.
Survey Coverage: The extent to which a title insurance policy covers survey-related issues.
Subrogation Clause: A provision allowing an insurer to seek reimbursement from responsible parties.
Seller Concession: When a seller offers incentives, like paying closing costs, to the buyer.
Solar Rights: The legal rights to access sunlight on a property for solar energy generation.
Survey Exception: An exclusion from title insurance coverage for survey-related issues.
Security Agreement: A document that pledges collateral for a loan, often real estate.
Statutory Warranty Deed: A deed guaranteeing the seller has a valid title and the right to sell the property.
Special Purpose Property: A property with a unique design or limited potential uses.
Sales Comparison Approach: An appraisal method comparing the property with recently sold similar properties.
Subject To: Buying a property "subject to" the existing mortgage, without assuming it formally.
Shared Ownership: When multiple individuals own shares of a property.
Special Assessment District: A defined area where property owners pay for specific improvements.
Site Plan: A detailed drawing of a property showing its structures, roads, and other features.
Seller Financing Addendum: An attachment to the sales contract outlining the seller's financing terms.
Seller's Market Value: The estimated value of a property in a seller's market.
Speculative Office Space: Office space constructed without pre-leased tenants.
Servient Tenement: A property burdened by an easement or right of way.
Surplus Land: Excess land not needed for a property's primary use.
Subsurface Rights: The rights to minerals, oil, and other resources beneath the surface.
Sublease Agreement: A contract between the original tenant and a subtenant to rent all or part of the property.
Seller Multiple Counter Offer: An offer from the seller to multiple buyers, inviting them to make their best offer.
Simple Interest Mortgage: A mortgage where interest is calculated only on the principal balance.
Seller's Net Proceeds: The amount the seller receives after all costs and fees are deducted from the sale.
Short Payoff: Negotiating with the lender to accept less than the full amount owed on the mortgage.
Survivorship Clause: A provision in joint ownership agreements determining what happens upon a co-owner's death.
Sale and Leaseback: A transaction where the seller becomes a tenant after selling the property.
Subordination: Lowering the priority of a lien or claim on a property.
Secondary Mortgage Market: A market where mortgage loans are bought and sold by investors.
Statutory Foreclosure: A foreclosure process defined by state law.
Seller Representation: A real estate agent representing the seller in a transaction.
Seller's Points: Fees paid by the seller to reduce the buyer's interest rate.
Sales Agent: A licensed individual who assists with real estate transactions.
Seller's Temporary Residential Lease: A leaseback agreement allowing the seller to remain in the property temporarily after the sale.
Seller's Market Analysis: A report assessing the property's value in a seller's market.
Sheriff's Sale: A public auction of a property due to foreclosure or tax delinquency.
Special Warranty Deed: A deed that guarantees the seller's title during their ownership but not before.
Sale and Purchase Agreement: A contract between the buyer and seller outlining the terms of the sale.
Seller Disclosure Form: A document in which the seller discloses known property defects to the buyer.
Shadow Inventory: Properties that are not yet listed but may be available for sale in the near future.
Short Sale Negotiator: A professional who facilitates negotiations between the seller and the lender in a short sale.
Subdivision Map: A detailed plan showing how a piece of land will be divided into lots.
Seller's Proceeds: The money the seller receives from the sale after deducting expenses.
Subsequent Entry: A second entry made in the property register, updating property details.

T

Tax Lien: A legal claim against a property for unpaid taxes.
Tenancy: The right to occupy and use a property as a tenant.
Title: A legal document proving ownership of a property.
Township: A division of land measuring six miles square, containing 36 sections.
Trust Deed: A document that transfers title to a trustee for securing a loan.
Transfer Tax: A tax imposed on the transfer of real estate ownership.
Townhouse: A multi-story home attached to one or more other houses.
Tenancy at Will: A lease agreement with no fixed duration, terminable by either party.
Total Debt Service Ratio (TDS): A ratio used to assess a borrower's ability to repay a mortgage.
Time-Share: Shared ownership of a property for a specific period each year.
Title Insurance: Insurance protecting against defects in a property's title.
Town Planning: The process of organizing land use and development in a municipality.
Tax Assessor: An official who determines property values for taxation purposes.
Turnkey: A property ready for immediate use without further modifications.
Trustee: An individual or entity holding legal title to a property on behalf of another.
Transfer of Ownership: The process of changing property ownership from one party to another.
Tax Base: The total assessed value of all properties subject to taxation.
Term: The duration of a loan or lease agreement.
Title Search: An investigation of public records to verify a property's ownership history.
Topography: The natural surface features of a piece of land.
Taxable Value: The value of a property used to calculate property taxes.
Tenant Improvement (TI) Allowance: Funds provided by the landlord for customizing leased space.
Turnover Rate: The frequency at which rental units change tenants in a specific period.
Tax Deed: A document granting ownership of a property to the government due to unpaid taxes.
Transaction Broker: A real estate agent assisting both the buyer and seller without advocacy.
Town Planner: A professional involved in urban and regional planning.
Tenement: A piece of land with buildings for residential or commercial use.
Tax Certificate: A document issued to a successful bidder at a tax lien auction.
Timeshare Interval: A specific period during which a timeshare owner has access to the property.
Trust Account: A segregated account where a broker holds client funds.
Tax Foreclosure: The process of selling a property due to unpaid taxes.
Town Center: The central commercial area of a town or city.
Temporary Certificate of Occupancy (TCO): A permit allowing limited use of a property before full completion.
Turnaround Time: The duration it takes to complete a particular task, like property inspections.
Title Company: A firm that handles title searches and insurance for real estate transactions.
Tenancy in Common: A form of co-ownership where each owner holds a distinct interest.
Tax Levy: The official assessment of property taxes by a local government.
Townhouse Condominium: A townhouse owned as a condominium unit within a larger complex.
Teardown: Demolishing an existing structure to build a new one on the same property.
Transaction Fee: A charge imposed by a brokerage or agent for handling a real estate transaction.
Tax Sale: An auction of properties with unpaid taxes to recover the debt.
Tax Abatement: A reduction or elimination of property taxes for a certain period.
Triple Net Lease (NNN): A lease where the tenant pays rent, taxes, insurance, and maintenance costs.
Title Cloud: A claim or encumbrance affecting a property's title.
Tax Deduction: An expense that reduces taxable income and lowers tax liability.
Title Plant: A collection of records and documents used in title searches.
Transfer Fee: A charge for transferring ownership from one party to another.
Termination Clause: A provision in a contract defining conditions for terminating it.
Turnkey Property: A fully renovated and furnished property ready for immediate occupancy or investment.
Tenant Improvements and Betterments (TIBs): Improvements made by a tenant to a leased space.
Tenure: The legal right to possess and use a property.
Title Report: A document summarizing the findings of a title search.
Tax Evasion: Illegally avoiding or underpaying taxes on real estate transactions.
Tax-Exempt Property: Property not subject to certain taxes due to its use or ownership.
Title Planting: Fraudulent practices to create fake documents affecting property title.
Tenant Estoppel Certificate: A document confirming the terms and conditions of a lease by the tenant.
Tax Liability: The amount of taxes owed to the government.
Tax Shelter: An investment that reduces taxable income and liability.
Title Policy: A document issued by a title insurance company outlining coverage.
Top Producer: A real estate agent with a high volume of sales.
Tenancy at Sufferance: When a tenant stays in a property without the landlord's permission after the lease expires.
Tax Roll: A comprehensive list of all taxable properties in an area.
Townhouse Cooperative: A townhouse owned by a cooperative corporation where residents own shares.
Title Restriction: A limitation or condition affecting the use or transfer of property.
Transfer of Rights: The transfer of ownership or specific property rights to another party.
Transaction Management Fee: A fee charged by some brokerages for managing real estate transactions.
Tax-Deferred Exchange: A 1031 exchange where capital gains taxes are deferred by reinvesting in like-kind property.
Tenant in Common Agreement: A contract defining co-ownership rights in a property.
Title Defect: Any issue that clouds or hinders a clear title to a property.
Tenant Screening: The process of evaluating potential tenants' backgrounds and creditworthiness.
Time is of the Essence: A phrase indicating strict adherence to deadlines in a contract.
Taxable Estate: The value of a deceased person's assets subject to estate tax.
Title Escrow: The holding of funds and documents by a neutral third party until the closing process is completed.
Timeshare Resort: A property or complex offering timeshare units and amenities.
Tax Service Fee: A fee charged by lenders to manage property tax payments on behalf of borrowers.
Tenant Representative: A real estate agent representing tenants in lease negotiations.
Transaction Coordinator: A professional coordinating the details of a real estate transaction.
Title Clearing: The process of resolving issues affecting a property's title.
Tax Incentive: A reduction in taxes offered to encourage certain activities or investments.
Title Abstract: A summary of the history of a property's title based on public records.
Tenant Mix: The combination of different tenants within a commercial property.
Tenant at Sufferance: A tenant remaining on the property after the lease expires without the landlord's permission.
Tax-Free Exchange: A 1031 exchange where capital gains taxes are fully deferred.
Tax Year: The annual period used for calculating property taxes.
Tenancy by the Entirety: A form of joint ownership for married couples with survivorship rights.
Title Company Closing Fee: A fee charged by the title company for handling the closing process.
Title Insurance Premium: The cost of obtaining title insurance for a property.
Tax Code: The set of laws and regulations governing taxation.
Title Examination: A thorough review of public records to verify a property's title.
Tenure Track: A faculty position at a university leading to permanent employment.
Taxable Income: The portion of income subject to taxation after allowable deductions.
Title Defect Coverage: Insurance protecting against title defects.
Title Transfer: The legal process of transferring ownership from one party to another.
Tax Base Year: The initial year used to determine property taxes.
Title Insurance Binder: A temporary title insurance commitment.
Title Search Fee: A charge for conducting a title search on a property.
Tax Dispute: A disagreement between a property owner and taxing authority regarding property taxes.
Tenancy for Years: A lease agreement with a fixed term and end date.
Title Insurance Underwriter: A company that issues title insurance policies.
Tax Break: A reduction in tax liability due to specific circumstances or incentives.

U

Underwriting: The process of assessing a borrower's creditworthiness and risk to determine if they qualify for a mortgage or loan.
Upfront Mortgage Insurance Premium (UFMIP): A one-time fee required by the Federal Housing Administration (FHA) for mortgage insurance.
Undivided Interest: Ownership in property with multiple owners, where each owner has an equal right to use and possess the whole property.
Urban Sprawl: The uncontrolled expansion of urban areas into surrounding rural lands.
Unit: A single, individual apartment or condo within a larger building or complex.
Usable Square Footage: The area within a property that is suitable for occupancy or use, excluding common areas and non-usable spaces.
Underwater Mortgage: A situation where the outstanding loan balance on a property exceeds its current market value.
Upgrade: Improvements made to a property that enhance its value or features.
Upzoning: The process of changing the zoning regulations of a property to allow for higher-density or different types of development.
Under Contract: A stage in the home buying/selling process when the parties have agreed on terms, but the sale is not yet final.
Uniform Residential Loan Application (URLA): The standardized mortgage application form used by lenders to collect borrower information.
Unencumbered Property: Property without any liens or mortgages attached to it.
Urban Renewal: Revitalization efforts to improve and redevelop urban areas, often involving public and private investment.
Unit Mix: The variety and distribution of different types of units within a multi-unit property.
Usury: Charging an interest rate on a loan that is higher than the legal limit.
Uptick Rule: A regulation that prohibits short selling a stock unless the last trade was at a price higher than the previous trade.
Utilities: Services such as water, electricity, and gas provided to a property for consumption.
Underimprovement: A property that is not fully developed or lacks certain necessary features.
Unimproved Land: Land without any structures or developments on it.
Urbanization: The process of a rural area transforming into an urban or city environment.
Unsecured Loan: A loan that is not backed by collateral or assets.
Usable Area: The space within a property that can be used or occupied by the occupants.
Upward Only Rent Review: A clause in a lease that allows rent increases but not decreases.
Usable Open Space: Open areas on a property that can be utilized for various purposes.
Underperforming Property: A property that generates lower income or return on investment than expected.
Upward Market: A real estate market characterized by increasing property values and demand.
Upper-end Market: The high-priced segment of the real estate market.
Use Value: The value of a property based on its specific use or potential use.
Underlying Mortgage: An existing mortgage that a borrower takes over when assuming a property.
Urban: Relating to a city or densely populated area.
Uniform Standards of Professional Appraisal Practice (USPAP): Guidelines followed by appraisers in the United States.
Unlawful Detainer: Legal action to remove a tenant who refuses to leave the property after the lease or rental agreement expires.
Unsecured Creditor: A creditor who does not have collateral for a debt owed to them.
Unincorporated Area: A region not governed by its own local municipal authority.
Under-equitied: A situation where a homeowner owes more on their mortgage than the current value of the property.
Underground Utilities: Utility lines and infrastructure (e.g., water, gas, electricity) buried below the ground.
Underlying Equity: The difference between the property's market value and the outstanding mortgage balance.
Upward Mobility: The potential for a property to appreciate in value over time.
Upward Spiral: A positive trend or growth in the real estate market.
Unlawful Entry: Illegal entry into a property, often referring to unauthorized tenants.
Utility Easement: A legal right for utility companies to access and maintain their infrastructure on private property.
Upward Trend: A positive movement in the real estate market over a period.
Undergraduate Housing: Residential units intended for college or university students.
Unfinished Space: An area within a property that lacks completion or finishing touches.
Underground Storage Tank (UST): A tank used to store substances, often petroleum, below ground level.
Up-and-Coming Neighborhood: An area with the potential for growth and increased property values.
Use Clause: A provision in a lease that specifies the permitted use of the leased property.
Urban Heat Island: An urban area that experiences higher temperatures than surrounding rural areas due to human activities and materials.
Upzoning Map: A zoning map that outlines areas where higher-density development is allowed.
Underwriting Fee: A fee charged by lenders for the assessment of a loan application.
Urban Planning: The process of designing and organizing urban areas to optimize their functionality and appeal.
Unilateral Contract: A contract where one party is obligated to perform while the other party is not.
Usable Space Ratio: The proportion of usable space to the total area of a property.
Upstairs: The upper floor of a multi-story building or house.
Uniform Commercial Code (UCC): Set of laws that govern commercial transactions, including those related to real estate.
Unitary Assessment: The valuation of a property for tax purposes based on its overall value.
Upfront Points: Mortgage points paid by the borrower at the loan's inception to lower the interest rate.
Unenforceable Contract: A contract that cannot be legally enforced due to certain defects or circumstances.
Unilateral Revocation: The termination of a contract by one party without the consent of the other party.
Unsecured Note: A debt instrument without collateral backing.
Unconscionable Contract: A contract that is unjust, oppressive, or unfair.
Use and Occupancy (U&O) Permit: A temporary permit allowing a buyer to occupy a property before the closing.
Underlying Assumption: A fundamental supposition or belief used in a real estate analysis.
Underwriter's Certificate: A document provided by an underwriter confirming the terms and conditions of a loan.
Urban Growth Boundary: A defined line separating urban areas from undeveloped or rural lands.
Under-Contract-To-Build (UTCB): A property that is under contract for construction.
Underwriting Standards: Criteria used by lenders to evaluate loan applications.
Upward Flexibility: The potential for a property to accommodate expansion or additional features.
Under-utilization: The inefficient use of a property, space, or resources.
Use Variance: Permission granted by local authorities to use a property for a purpose not typically allowed by zoning regulations.
Unimproved Property Loan: A loan for purchasing raw or undeveloped land.
Unsound Mind: A condition where a person lacks the mental capacity to make rational decisions, potentially affecting contract validity.
Underlying Lease: The original lease on a property, which may be subject to assignment or sublease.
Unlawful Occupancy: Occupying a property without proper authorization or legal right.
Upfit: Improvements made to a property to meet the specific needs of a tenant or owner.
Uncovered Area: A part of the property that lacks protection from the elements, such as a patio or deck.
Up-and-Out Option: A lease clause that allows the tenant to break the lease if certain conditions are met.
Upstairs Neighbor: A resident living in an apartment or unit above another.
Uninhabitable Property: A property that is unsafe or not suitable for living due to damage or other issues.
Usury Law: Legal regulations that set the maximum interest rate that can be charged on loans.
Unenforceable Lien: A lien that cannot be legally upheld due to errors or defects.
Upland: Land located above the natural floodplain or water level.
Underlying Debt: The outstanding debt on a property, often associated with a mortgage.
Unit Sales Price: The price at which a single unit within a multi-unit property is sold.
Undercapitalized Property: A property with inadequate financial resources for maintenance and operations.
Underwriting Guidelines: Specific criteria used by lenders to evaluate loan applications.
Unimproved: Land without any developments or improvements.
Universal Agent: A representative with broad authority to act on behalf of the principal in various matters.
Unilateral Mistake: An error made by one party in a contract that does not involve the other party.
Uplift: An increase in the value or attractiveness of a property or neighborhood.
Unrecorded Deed: A deed that has not been officially filed or recorded with the appropriate government office.
Urban Land Institute (ULI): A nonprofit research and education organization focused on urban development and land use.
Underperforming Asset: A property or investment that generates lower returns than expected.
Unanimous Consent: Agreement or approval by all parties involved.
Unilateral Contract: A contract where only one party is bound to perform, while the other has the option to accept or reject the offer.
Upgrade Clause: A lease provision allowing a tenant to make improvements or upgrades to the property.
Undue Influence: Manipulation or coercion exerted by one party to influence the decision-making of another.
Unjust Enrichment: A legal doctrine that prevents one party from unfairly benefiting at the expense of another.
Urban Homesteading: A program that encourages homeownership in urban areas through incentives or subsidies.
Unit Mix Ratio: The proportion of different types of units in a multi-unit property, often expressed as a percentage.

V

Vacancy Rate: The percentage of unoccupied rental properties in a specific area or building.
Valuation: The process of determining the value of a property for sale, purchase, or assessment purposes.
Variable Rate Mortgage: A mortgage with an interest rate that can change over time based on market conditions.
Value-Added Property: A property that has undergone improvements or renovations to increase its value.
Vacant Land: Land without any structures or developments on it.
Vacation Home: A property purchased for seasonal or recreational use.
Vacate: To move out of a property or terminate a lease.
Valid Contract: A legally enforceable agreement that meets all necessary requirements.
Valued Policy: An insurance policy that pays a set amount in the event of a total loss.
Vendor: The seller of a property or real estate.
Venture Capital: Investment funds provided to real estate projects with high growth potential.
Verification of Deposit (VOD): Documentation to verify a borrower's bank account and balances.
Verification of Employment (VOE): Verification of a borrower's employment status and income.
Vested: Having the right to ownership, usually related to retirement benefits.
Veterans Affairs (VA) Loan: A mortgage program available to eligible veterans and their families.
Vibration Easement: An easement granting permission to create vibrations, often related to construction projects.
View: The visual perspective from a property, often affecting its value.
Village Zoning: Zoning regulations specific to small, incorporated communities.
Vintage Property: A property that is significantly old and often valued for its historical appeal.
Virtual Tour: A digital presentation that allows potential buyers to virtually explore a property.
Visual Easement: An easement granting permission for unobstructed views.
Voidable Contract: A contract that can be legally voided or canceled by one party.
Voluntary Lien: A lien placed on a property with the owner's consent.
Volume Homebuilder: A developer constructing multiple homes in a short period.
Varnish: The application of a protective coating to wood surfaces.
Vacancy Loss: The income lost due to unoccupied rental units.
Vacant Possession: When a property is free of occupants and ready for new possession.
Variance: An exception granted by local authorities to deviate from zoning regulations.
Venture Partnership: A joint partnership for real estate development or investment.
Varnish Stain: A combination of varnish and stain used to enhance wood surfaces.
Vertical Conveyance: Elevators and escalators that transport people within a building.
Vacation Rental: A property rented out to travelers or tourists for short-term stays.
Virtual Staging: Digitally adding furnishings and decor to listing photos to enhance a property's appeal.
Virtual Office: A remote office setup using digital communication and technology.
Vibration Isolation: Techniques to minimize vibrations transferred between structures.
Voluntary Alienation: The transfer of property ownership through a willing act, such as a sale or gift.
Void Contract: A contract that is not legally binding from the beginning.
Vestibule: An entrance hall or lobby before entering a building or room.
Variable Expenses: Costs that fluctuate depending on the level of property use or occupancy.
Vendor Take-Back Mortgage: When a seller provides financing to the buyer for part of the purchase price.
Visitation Rights: Legal rights for non-custodial parents to visit their children in a property.
Vertical Integration: A company controlling multiple stages of the real estate development process.
Voluntary Lien Release: The removal of a lien by the lienholder once the debt is paid off.
Vegetative Roof: A green roof covered with plants for environmental benefits.
Vacant Possession Date: The date on which the property becomes unoccupied and available for possession.
Veneer: A thin decorative layer applied to surfaces like walls or countertops.
Verbal Offer: An offer made orally, but not yet formalized in writing.
Vantage Point: A location providing a clear view of a property or surroundings.
Variable Rate: An interest rate that can change over time, depending on an underlying index.
Vacation Village: A resort or community designed for seasonal or vacation living.
Varnish Stripper: A chemical used to remove varnish from surfaces.
Visual Barrier: A physical obstruction that blocks the line of sight.
Vested Remainder: An estate in land that will pass to a specified beneficiary upon a specific event.
Voucher Program: A government-sponsored housing assistance program providing rental vouchers to low-income families.
Vertical Growth: The development of a property upwards, typically through additional floors or stories.
Vertical Space: The height or vertical dimension of a room or building.
Value Engineering: The process of optimizing construction costs while maintaining quality.
Voluntary Conveyance: The transfer of property ownership by choice, not by legal requirement.
Validity Period: The duration during which an offer or contract is legally valid.
Varnish Remover: A product used to dissolve varnish and prepare surfaces for refinishing.
Viable Use: A legal and practical use for a property that meets zoning regulations.
Viewshed: The area that can be seen from a specific vantage point.
Variation Margin: The additional funds required to meet a margin call in a real estate investment.
Vibration Damping: Techniques to reduce vibrations and noise in a property.
Volunteer Housing: Housing provided by non-profit organizations or charities for volunteers or workers.
Vertical Sprawl: The expansion of urban development vertically, typically through tall buildings.
Varnish Sealer: A coating applied to seal wood surfaces before varnish application.
Vagueness: Lack of clarity or specificity in contract language.
Village Concept: A planning approach that creates a self-contained community within a larger urban area.
Vacation Timeshare: Shared ownership of a property for specified periods each year.
Variation Order: A change to the original construction plans or scope of work.
Visible Deterioration: Easily seen damage or decay to a property.
Vulnerable Road User: A pedestrian or cyclist at risk of injury from vehicles.
Voids: Empty spaces within a building, such as stairwells or atriums.
Visitor Parking: Designated parking spaces for guests in a residential or commercial property.
Vapor Barrier: A material used to prevent moisture from passing through walls or floors.
Vacant Property Insurance: Insurance coverage for unoccupied properties.
Variance Analysis: A comparison of actual performance to budgeted or forecasted figures.
Vertical Subdivision: Dividing a property into multiple levels, often in commercial or industrial buildings.
Vacancy Control: Regulations limiting rent increases for rent-controlled units between tenants.
Vacant Home Staging: Preparing and furnishing an unoccupied property for sale or rental.
Vacation Right of Way: A legal right allowing access to a property for seasonal use.
Village Development: A planned community designed with a village-like atmosphere.
Vented Crawl Space: A crawl space with vents to allow airflow and reduce moisture.
Vacation Timeshare Ownership: Owning a share in a property for vacation use during specific periods.
Valuation Date: The date on which the value of a property is determined for assessment or appraisal.
Village Improvement Society: A community organization dedicated to enhancing village aesthetics and amenities.
Veneer Wall: An exterior wall made of a thin layer of decorative material.
Vacancy Clause: A lease provision outlining the landlord's rights when the property becomes vacant.
Vacancy Costs: Expenses incurred due to unoccupied rental units.
Vested Interest: A personal stake or interest in a property or project.
Valued Policy Law: State laws requiring insurers to pay the full policy amount in case of total loss.
Virtual Office Address: A professional business address used by remote or virtual businesses.
Vested Fee: Absolute ownership of a property, without any restrictions or conditions.
Variable Rent: A rental agreement where the rent amount fluctuates based on specific factors.
Voidable Title: A title that appears valid but may be legally disputed or contested.
Vertical Multiplier: A factor used to determine a property's income potential based on its number of floors.
Vendor's Lien: A lien held by a seller on a property until the purchase price is fully paid.
Voidable Deed: A deed that can be legally invalidated due to certain defects or circumstances.
Village Center: The central commercial and social hub of a village or planned community.

W

Walk-through: A final inspection of a property by the buyer before closing to ensure that everything is in order.
Warehousing: Holding multiple mortgages for a period before selling them in the secondary mortgage market.
Warranty deed: A legal document that guarantees the clear title and ownership transfer of a property from the seller to the buyer.
Waterfront property: Real estate located along a body of water, such as a lake, river, or ocean.
Zoning: Government regulations that divide a region into different land-use zones, dictating what type of structures can be built in each area.
Walkability: A measure of how easily accessible amenities and services are on foot from a property.
Wrap-around mortgage: A financing arrangement where a new mortgage includes the balance of the existing mortgage, becoming the new primary mortgage.
Wetland: A low-lying area saturated with water, which may have specific usage restrictions for development.
Working capital: The available funds a real estate business has to cover daily operations and expenses.
Wholesale: A property transaction where an investor buys a property at a lower price and then sells it to another buyer for a profit.
Wallboard: The inner covering of walls, usually made of gypsum or plasterboard.
Wood frame: A construction method using wooden beams, joists, and studs to build a property.
Wrap-around porch: A porch that wraps around the exterior of a building, often found in traditional and Victorian-style homes.
Walkscore: A numerical rating that quantifies the walkability of a property's location.
Warranty of habitability: A legal guarantee that a rental property meets basic living standards.
Warehouse space: Commercial space used for storing goods and products.
Window of Opportunity: A limited timeframe during which an advantage can be gained in a real estate transaction.
Wrap mortgage: A secondary mortgage used to secure financing for the down payment on a primary mortgage.
Whole loan: A mortgage loan that hasn't been divided or securitized.
Working interest: A share of ownership in an oil or gas well that gives the owner the right to a portion of the profits and costs.
Walkout basement: A basement with an exterior door or access to the outside, typically found in properties built on sloped terrain.
Warranty insurance: A policy that covers defects in construction for a specified period after a property's completion.
Wholesaler: An individual or company that buys properties in bulk and sells them to other investors.
Walk street: A street closed to vehicular traffic, often lined with shops and restaurants.
Waiver: The voluntary relinquishment of a right or claim, often used in lease agreements.
Water rights: Legal entitlement to use water from a water source, often important in arid regions.
Wire transfer: Electronic funds transfer used for various real estate transactions, such as earnest money deposits or closing costs.
Wooded lot: A parcel of land with a significant number of trees.
Wet settlement: A real estate closing where funds are dispersed to the seller and other parties on the same day.
Working drawings: Detailed architectural plans used for construction and permits.
Wrap loan: A loan that wraps around an existing loan, combining them into a single payment.
Weighted lease term: A calculation used in commercial real estate to determine the average lease length based on various lease terms.
Warranty of title: A guarantee that the seller owns the property and has the right to sell it.
Weatherization: Improving a property's energy efficiency to reduce heating and cooling costs.
Working capital loan: Financing used to cover a company's operational expenses, including real estate businesses.
Workout agreement: A renegotiation of loan terms to prevent foreclosure.
Walk-up: A building with no elevator, where residents must use stairs to access their units.
Whole life insurance: A policy that provides life insurance coverage and builds cash value over time, which can be used for various purposes, including real estate investments.
Warehouse receipt: A document acknowledging the storage of goods in a warehouse, often used as collateral for loans.
Wraparound insurance: A comprehensive insurance policy that covers multiple properties under a single policy.
Wildlife management plan: A conservation plan for preserving and managing natural habitats on a property.
Warehouseman's lien: A legal claim that grants a warehouse operator the right to retain possession of goods until storage fees are paid.
Withholding tax: Taxes deducted from income, such as rental payments, before being disbursed to a non-resident property owner.
Wet settlement state: A state where a property's title transfers to the buyer before the mortgage is fully paid off.
Wraparound mortgage clause: A clause in a mortgage agreement that allows a new borrower to assume an existing mortgage.
Wraparound deed of trust: A secondary trust deed used to secure additional financing.
Work letter: A document outlining the scope of work and responsibilities in a tenant improvement project.
Windfall tax: A tax imposed on unexpected financial gains, such as significant profits from real estate transactions.
Wind energy rights: The rights to use wind turbines or other wind energy generation on a property.
Wetland reserve program: A conservation program that provides financial incentives to landowners for preserving wetlands.
Withholding certificate: A document that certifies the amount of tax to be withheld from the sale of a foreign-owned property.
Withholding agent: An individual or entity responsible for withholding taxes on behalf of a foreign property seller.
Walkable neighborhood: A neighborhood with pedestrian-friendly infrastructure and amenities nearby.
Whole-house inspection: A comprehensive inspection of a property's structural, mechanical, and electrical systems.
Water table: The level below the ground where the soil is saturated with water.
Wraparound lease: A lease that combines multiple units or spaces into one lease agreement.
Wire fraud: A criminal act where scammers intercept wire transfer instructions and redirect funds to fraudulent accounts during real estate transactions.
Workforce housing: Affordable housing intended for low to moderate-income workers.
Wharfage: Fees charged for using a wharf or dock for loading and unloading goods.
Warranty plan: A service contract that covers repairs or replacement of major systems and appliances in a property.
Woodworm: Insects that infest and damage wood in a property.
Workforce accommodation: Temporary housing provided by employers for their employees.
Windbreak: Plantings or structures used to shield a property from strong winds.
Wood shingle: Thin, tapered pieces of wood used for roofing or siding.
Washout: A significant erosion or destruction of land due to heavy rainfall or flooding.
Workforce shortage: A lack of skilled workers in the construction industry, leading to delays and increased labor costs.
Working drawings: Detailed plans used by contractors during construction.
Wetland mitigation: Actions taken to offset the destruction or disturbance of wetlands through conservation or restoration efforts.
Wind farm: An area with multiple wind turbines used to generate electricity.
Winterization: Preparing a property for winter weather conditions to prevent damage.
Wall tie: Metal connectors used to secure brick or stone walls to the building's frame.
Wrap-up insurance: A comprehensive insurance policy that covers multiple parties involved in a large construction project.
Window well: A small, dug-out area around a basement window to provide light and ventilation.
Weatherproofing: Measures taken to protect a property from the elements, such as sealing windows and doors.
Water-based zoning: Zoning regulations focused on water-related uses, such as marinas and docks.
Wraparound porch: A covered porch that wraps around the sides or front of a property.
Whole-tail investing: A real estate investment strategy that combines elements of wholesaling and retailing.
Warranty letter: A written guarantee from a builder or seller about the condition of a property.
Working-class neighborhood: A residential area where the majority of residents are in the working-class income bracket.
Water meter: A device used to measure water consumption in a property.
Warehouse lending: Providing short-term financing to mortgage lenders to fund new loans.
Wood paneling: Interior wall covering made from wood veneer or plywood.
Water conservation: Practices and technologies used to reduce water usage in properties.
Wire mesh: A material made of interconnected metal wires used in construction and reinforcement.
Window treatment: Decorative coverings or curtains used to enhance the appearance of windows.
Writ of attachment: A legal order that allows the seizure of a property or assets to satisfy a debt or judgment.
Wood preservative: Chemical substances applied to wood to protect it from decay and insects.
Wetland delineation: The process of identifying and mapping the boundaries of wetlands on a property.
Weighted average lease term (WALT): The average length of time remaining on all leases in a commercial property.
Wooded acreage: A piece of land covered with trees.
Walk-up apartment: An apartment located on one of the lower floors of a building with no elevator.
Wood-burning stove: A heating appliance that burns wood to produce heat.
Warranty of seaworthiness: A guarantee that a ship or vessel is fit for its intended purpose.
Warehouse receipt: A document acknowledging the storage of goods in a warehouse.
Wrap-around balcony: A balcony that extends around the outside of a property.
Withholding tax certificate: A document issued by a tax authority to confirm the payment of withholding taxes.
Waterfront development: The construction and improvement of properties and infrastructure along bodies of water.
Wrap-around porch: A porch that wraps around two or more sides of a property.
Waterfall provision: A clause in a partnership agreement that outlines how profits and distributions are divided among partners.
Water softener: A device used to reduce the hardness of water by removing minerals like calcium and magnesium.

X

Xenolith: A foreign rock inclusion found within another type of rock, often encountered in geology related to land assessments.
Xeriscaping: Landscaping method that uses drought-resistant plants and minimal water to conserve resources.
X-factor: A unique and appealing quality of a property that sets it apart from others in the market.
X-height: The height of lowercase letters in a font, which can be significant in real estate signage and marketing materials.
X-title: Title insurance that covers errors or omissions not found during the title search.
Xenodochial: A term used to describe a property or neighborhood that is friendly and welcoming to strangers.
Xerox copy: A photocopy of a document often required for real estate transactions.
X-axis: A horizontal axis on a graph, sometimes used to represent time or other variables in real estate data.
X-coordinate: The horizontal position of a point on a two-dimensional plane, useful in surveying and mapping properties.
Xerophilous: Plants adapted to arid or desert conditions, relevant for landscaping choices in dry climates.
Xenophobia clause: A clause in a lease or agreement that prohibits discrimination based on nationality or ethnicity.
X-bracing: A structural reinforcement technique used in construction for seismic resilience.
X-form: A specialized document used for certain legal purposes, possibly encountered in real estate contracts.
Xenolithology: The study of xenoliths and their geological significance, relevant in land evaluation.
X-easement: An easement granting access to a property from a neighboring property or public road.
Xerophytic: Describes plants that are adapted to dry or arid conditions, considered for landscaping in drought-prone areas.
Xylology: The study of wood and its uses, relevant for construction and building materials.
X-banner stand: A portable banner display often used for real estate marketing at events or open houses.
Xerothermic: Relating to hot and dry climates, taken into account in property assessments and location choices.
X-ray inspection: A non-destructive testing method that might be used for inspections in construction or building maintenance.

Y

Yard: The area of land surrounding a property.
Yield: The return on investment generated from a real estate property, usually expressed as a percentage.
Year Built: The year in which a property was constructed.
Year-to-Date (YTD): The period from the beginning of the current year to the present date.
Yield Management: A strategy used by property managers to maximize rental income by adjusting rental rates based on demand.
Yield Spread Premium (YSP): Compensation paid to a mortgage broker for originating a loan with a higher interest rate.
Yellow Pages: A telephone directory of businesses, including real estate agencies and professionals.
Young Professional: A demographic group often targeted for certain types of real estate properties.
Yield Curve: A graph showing the relationship between interest rates and the time to maturity for a set of fixed-income securities.
Yearly Lease: A lease agreement that lasts for one year.
Yearly Renewable Term: A type of insurance policy that renews annually.
Yard Sale: A sale of used items held on a property's yard or driveway.
Yearly Property Tax: The annual tax paid by property owners based on the assessed value of their property.
Yellow-Dog Contract: An agreement used in certain areas to prevent homeowners from selling to specific racial or ethnic groups.
Yearly Expense: The total expenses incurred by a property owner in a year.
Yield Maintenance: A prepayment penalty charged to borrowers who pay off a loan before its maturity date.
Yttrium Barium Copper Oxide (YBCO): A superconducting material used in some real estate applications.
Yieldstar: A software system used for revenue management in the multifamily housing industry.
Year-End Bonus: An additional payment often given to employees, which might impact their ability to qualify for a mortgage.
Yield to Call (YTC): The yield anticipated by an investor if a bond is called before it matures.
Yearly Recurring Debt: The recurring debt obligations paid by a borrower annually.
Yearly Ground Rent: An annual payment made by a lessee to a lessor for the right to use the land.
Yankee Bond: A bond issued by a foreign entity in the United States.
Yield to Maturity (YTM): The total return anticipated on a bond if held until it matures.
Yurt: A portable, round tent often used in alternative housing arrangements.
Yield-Based Option (YBO): An option associated with real estate development projects and investments.
Young Family: A demographic group often targeted for family-oriented real estate properties.
Year-to-Year Tenancy: A rental agreement that automatically renews on a yearly basis.
Yearly Interest Rate Adjustment: A change in the interest rate of an adjustable-rate mortgage that occurs once a year.
Yearly Rent Increase: An annual increase in the rent amount specified in a lease agreement.
Yellow-Turning White: A term used in describing the aging process of paint or finishes on a property.
Yttrium: A chemical element sometimes used in the construction of laser-activated lighting systems.
Y-Cable: A network cable used in real estate properties for internet and communications.
Yearly Principal Adjustment: A change in the principal amount of a loan on an annual basis.
Young Single Professional: A demographic group often targeted for urban living and apartment complexes.
Yearly Income: The total income earned by a property owner within a year.
Yttrium Iron Garnet (YIG): A magnetic material used in certain electronic devices found in properties.
Yellowing: The discoloration of materials in a property due to age or exposure to light.
Yield Basis: A method used in the valuation of real estate investments.
Yearly Budget: A financial plan outlining anticipated expenses for a property within a year.
Yearly Cash Flow: The net income generated by a property in a year after all expenses.
Yearly Cap: The maximum interest rate increase allowed on an adjustable-rate mortgage in one year.
Yield Curve Risk: The risk associated with changes in interest rates affecting the value of bonds and other fixed-income securities.
Yellow Pages Directory Advertising: Advertising in the phone book used to promote real estate services.
Yearly Mortgage Insurance: An insurance policy that protects the lender if a borrower defaults on a mortgage, often paid annually.
Yttrium Aluminum Garnet (YAG): A synthetic gemstone sometimes used in property decor.
Yield to Worst (YTW): The lowest yield expected on a bond, taking into consideration potential call provisions.
Yearly Repair Budget: The allocation of funds for property repairs and maintenance on an annual basis.
Yearly Payment Cap: The maximum increase allowed in monthly mortgage payments for an adjustable-rate mortgage in one year.
Yearly Conversion Option: An option for a tenant to convert a lease from a fixed-term to a month-to-month basis after the initial lease period.
Yield-Based Pricing: A pricing strategy based on the anticipated yield from an investment property.
Yearly Property Appreciation: The increase in a property's value over one year.
Yearly Natural Hazard Disclosure Statement: A statement required in some areas to disclose potential natural hazards affecting a property.
Year-End Settlement: The final accounting of financial transactions for a property at the end of a year.
Yellow Certificate of Occupancy: A certificate indicating that a property meets local building codes and is fit for occupancy.
Yearly Homeowners Association Fee: The annual fee paid by property owners in a homeowners association for shared amenities and maintenance.
Yoke: A beam used to balance the load of a property's roof or floors.
Yield-Based Investment Strategy: An investment approach focused on generating income from real estate assets.
Yearly Home Insurance: An insurance policy that covers property and liability risks, paid on an annual basis.
Yawner: A term used in real estate for a property that remains on the market for an extended period without attracting buyers.
Yield-Based Loan Pricing: A loan pricing method based on the potential yield for the lender.
Year-to-Year Comparison: A comparative analysis of data from one year to the next for a property.
Year-to-Year Mortgage: A mortgage loan with a term of one year, often used in commercial real estate.
Yearly Home Inspection: A comprehensive inspection of a property performed annually for maintenance and safety purposes.
Yellow Flag: A symbol used in real estate marketing to indicate a property is under contract but still accepting backup offers.
Yearly Hazard Insurance: Insurance that protects against property damage caused by specified hazards, paid annually.
Yield-Enhanced Option Strategy (YEOS): An investment strategy that combines options with real estate holdings.
Year-to-Year Changes in Value: The fluctuation in a property's value from year to year.
Yearly Service Charge: An annual fee charged to tenants for maintenance services provided by a landlord or property management company.
Yellow-Dot Mortgage: A mortgage program available to specific groups, such as veterans or first-time homebuyers.
Yearly Net Operating Income: The total income generated by a property after deducting operating expenses for one year.
Yield Spread: The difference between the yield on a security and the yield on a benchmark, relevant in mortgage-backed securities.
Yearly Property Management Fee: The annual fee paid to a property management company for their services.
Yearly Economic Occupancy: The percentage of time a rental property is occupied within a year.
Yellow Light: A real estate term used to describe a cautionary market condition.
Yearly Construction Costs: The total expenses incurred for construction or renovation work on a property in one year.
Yearly Escrow Payment: A portion of monthly mortgage payments set aside in an escrow account for property taxes and insurance, often paid annually.
Yearly Cash-on-Cash Return: The net profit generated from an investment property as a percentage of the initial investment.
Yield-Burning: An illegal practice of manipulating bond prices to generate additional profits for municipal issuers.
Yearly Rent Roll: A document detailing the rental income and occupancy of a property for one year.
Yearly Holding Costs: The expenses incurred by a property owner while holding an investment property within one year.
Yearly Allowance for Doubtful Accounts: A reserve set aside for potential unpaid rent in property accounting.
Yearly Adjustable Rate Mortgage (ARM): A mortgage loan with an interest rate that adjusts annually.
Yellow-Dog Rule: An agreement used in certain areas to prevent homeowners from selling to specific racial or ethnic groups.
Yearly Depreciation: The decrease in a property's value over one year, used in accounting and tax purposes.
Yearly Allocation: The distribution of funds to different expenses for a property within a year.
Yield-Based Loan: A loan with interest rates tied to the expected yield for the lender.
Yearly Completion Rate: The percentage of properties completed within a year compared to those started.
Yearly Home Warranty: A service contract that covers the repair or replacement of certain home systems and appliances, paid annually.
Yearly Advertising Budget: The amount of money allocated for marketing a property within one year.
Yearly Non-Owner Occupied: A designation used for properties that are not occupied by the owner but rented out.
Yearly Preferred Stock Dividends: The total dividends paid to preferred stockholders in one year.
Yearly Affordability Index: A measure of how affordable housing is for buyers in a particular area within one year.
Yearly Occupancy Rate: The percentage of time a rental property is occupied within one year.
Yearly Occupancy Cost: The total cost of occupying a property, including rent and other expenses, within one year.
Yearly Furnished Rental: A rental property that comes fully furnished and leased on an annual basis.
Yearly Building Permit: A permit required for certain construction or renovation work, issued on an annual basis.
Yearly Gross Potential Rent: The total income a property could generate if fully rented at market rates for one year.
Yearly Gross Revenue: The total income generated by a property from all sources within one year.
Yearly Lease Agreement: A rental contract that spans one year, specifying terms and conditions for both tenants and landlords.

X

Xenolith: A foreign rock inclusion found within another type of rock, sometimes relevant in geology assessments for land properties.
Xeriscaping: Landscaping method that uses drought-resistant plants and minimal water to conserve resources, important for property landscaping in arid regions.
X-factor: A unique and appealing quality of a property that sets it apart from others in the market, enhancing its attractiveness to buyers.
X-height: The height of lowercase letters in a font, relevant for real estate signage and marketing materials.
X-title: Title insurance that covers errors or omissions not found during the title search, providing protection to property owners.
Xenodochial: A term used to describe a property or neighborhood that is friendly and welcoming to strangers, potentially influencing property values and community dynamics.
Xerox copy: A photocopy of a document often required for real estate transactions, for verification and documentation purposes.
X-axis: A horizontal axis on a graph, sometimes used to represent time or other variables in real estate data analysis.
X-coordinate: The horizontal position of a point on a two-dimensional plane, used in surveying and mapping properties.
Xerophilous: Describes plants that are adapted to dry or arid conditions, considered for landscaping choices in drought-prone areas.
Xenophobia clause: A clause in a lease or agreement that prohibits discrimination based on nationality or ethnicity, promoting fair housing practices.
X-bracing: A structural reinforcement technique used in construction for seismic resilience, especially relevant in earthquake-prone regions.
X-form: A specialized document used for certain legal purposes, possibly encountered in real estate contracts.
Xenolithology: The study of xenoliths and their geological significance, relevant in land evaluation.
Xe-easement: An easement granting access to a property from a neighboring property or public road.
Xerophytic: Describes plants that are adapted to dry or arid conditions, considered for landscaping choices in drought-prone areas.
Xylology: The study of wood and its uses, relevant for construction and building materials.
X-banner stand: A portable banner display often used for real estate marketing at events or open houses.
Xerothermic: Relating to hot and dry climates, taken into account in property assessments and location choices.
X-ray inspection: A non-destructive testing method that might be used for inspections in construction or building maintenance.

About the author

The Ultimate Guide to Real Estate

"The Ultimate Guide to Real Estate" is an all-encompassing blog that serves as an invaluable resource for anyone interested in the world of real estate. Whether you're a novice looking to buy your first home, an aspiring investor seeking profitable opportunities, or a professional seeking to advance your career in the industry, this blog has you covered.

Additional Real Estate Resources

Real Estate

First Time Home Buyer Rhode Island

Purchasing your initial home can be an exhilarating and momentous event. But becoming a first time home buyer Rhode Island is worth it! From working out the complex process to discovering the ideal location, there’s a lot

Real Estate

Networking And Relationship Building In Real Estate Marketing

Networking and relationship building are essential for real estate marketing. These tactics help create connections, build trust, and bring in leads. By forming a strong network of industry colleagues and clients, real estate agents can expand their

Real Estate

Lights Camera Action Video Marketing For Real Estate Professionals

Real estate is a tough competition! To stay on top, you need to use innovative strategies. Video marketing is one of these – it’s very popular now. It can show properties in a great way that captures

Real Estate

From Mailbox To Closing Table Real Estate Direct Mail Strategies

The real estate biz is a bustling market, with plenty of chances and challenges. From locating the ideal property to sorting out complex legal details, every step needs thoughtful thought. In today’s digital age, where tech rules

Real Estate

Ebooks And Guides A Powerful Tool In Real Estate Content Marketing

Real estate content marketing has become powerful with the use of ebooks and guides. They serve as great resources for buyers, sellers, and investors. Ebooks and guides provide detailed information in an easily digestible format. This allows

Real Estate

Content That Sells Creating Irresistible Listings in Real Estate

Today’s digital world moves quickly. To make sales, you need remarkable content. Your listing must stand out from the rest. Here, we’ll look at how to craft content that sells by creating irresistible listings in real estate.