Loan not backed by collateral.
Credit note with only the borrowers financial situation and credit history as security.
Estate listing obtained without any effort on the part of the real estate broker.
Material that is unacceptable for a given use. Often specifically applies to soil that is too wet to support a road or other structure - see Unsuitable Soil.
Ground that is not suitable for intended construction on the site, often because of an excess of moisture or general poor soil quality. Special foundations and design modifications may be necessary to allow construction to proceed.
Fee received immediately when a contract is signed or an investment made.
Options offered to buyers that go beyond the standard. Usually in a new home, they often are more lighting, better carpeting etc.
Land which adjacent to water, such as a stream.
Contract provision allowing a purchase the right to cancel a contract if the occupancy requirements are not satisfied by a certain date.
An established amount, in a bidding procedure or auction, below which the seller is not obligated to accept the winning bid. Also referred to as a reserve price.
An approximation of the potential appreciation of value in real estate by considering location, amenities or increase in rental income.
Rezoning of property to a higher use.
see Uniform Residential Appraisal Report
Relating to a city.
Grant intended to stimulate private investment in distress cities and urban areas by providing federal seed money, thereby attracting private funds for revitalization. HUD funds are transferred directly to cities and states for urban renewal projects.
Nonprofit entity from which you can obtain data and advice on the best utilization of land. Address: 1090 Vermont Avenue, NW, Washington, D.C. 20005. Telephone: (202) 289-3307.
Real estate located in a heavily populated city area.
Older property purchased by a governmental agency and improved or modernized or demolished and replaced.
Land availability in an urban area.
Unplanned & unexpected expansion of a large area of development in an urban area.
Water resistant adhesive sold in powdered form.
Durable varnish used frequently on wood floors.
Oil-free varnish used in damp areas. The varnish cures by reacting to moisture in the air.
Federal Agency overseeing the Federal Housing Administration, in addition to a number of housing and community development programs.
Measurement of liquid volume equal to 128 ounces (4 quarts).
Percentage of land allowed for productive use to the total square footage of the land. For example: 50,000 total square footage with 40,000 square feet allowable for building due to zoning gives a density rate of 80%.
Levy charged for use of things such as town water, etc.
Usual operating service life of property used for depreciation accounting, which does not necessarily coincide with the actual physical life.
see Uniform Standards of Professional Appraisal Practices
One individual's right to utilize the property of another such as the privileges given under an easement.
Excessive and illegal interest charged on a loan.
State laws which limit the interest rate charged to persons borrowing money in that state.
Services provided to land or houses by public utility companies such as water, gas, electricity, etc.
A passage through property that is granted by the owner to a public utility.
A small knife with a small, sharp, retractable blade.
Room that contains the appliances necessary for the maintenance of that establishment.
Amount of heat conducted by a window or door between the air in the environment and the inside air.
Material that blocks UV light.