Sandy Wills

 Real Estate Glossary

Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.

Aa - Ac - Ad - Ae - Ak - Am - Ann - Ar - As - At

see American Society of Appraisers.

Transfer of title to a property in an existing condition with no warranties or representations.

Silicate trade name; used in paint as a binder to retain pigment.

Fire-resistant material, formerly used for insulation and some home products, which has been found to be a health hazard and is no longer used.

Fire-resistant cement made of a combination of asbestos fibers and portland cement.

Electrical conduit of asbestos cement.

Roper made with asbestos and wrapped around a pipe to facilitate the pouring of molten lead. Also referred to as a pouring rope.

Shingles made of a composite of portland cement and asbestos fibers or asbestos and other compounds.

Joint with only brazing performed on it.

Drawing made to show the actual dimensions and locations of installations.

American Standard Code for Information Interchange. Computer code used to represent letters, symbols, and use instructions.

Tree, with hard wood, that resembles oak in appearance. White or grayish residue left after something is thoroughly burned.

A grate that may be opened to allow fireplace ashes to fall into an ash pit below where ashes can be can be collected for removal.

Area in a fireplace where ashes fall when swept from the fireplace and are stored until removal.

Professional association of independent home inspectors. These members must meet the group's education and performance requirements. For a list of ASHI-certified inspectors, call (800) 743-2744.

Squared stone used in building facings, foundations and sidewalks, which is precisely cut and can be used with thin mortar joints.

Rough-surface brick that is made to look like stone.

Masonry assembled in different sizes and in random fashion to imitate ashlar.

Awry, crooked, not lined up.

Seller's initial price asked for a property.

At a slant. Sloping.

Ratio between the height of an object and the width.

Tree from the poplar family.

Black, thick, bituminous substance found in many parts of the world; smooth, hard, brittle black or brownish-black resinous mineral consisting of a mixture of hydrocarbons. Asphalt can be made from products obtained in petroleum refining. Commonly used for waterproofing and paving. The blackest asphalt is said to be the best.

Asphalt paving. Most commonly used for driveways, the type of soil underneath is very important. If there is good drainage, 4" of well-compacted asphalt may be all that is necessary. With clay, which has little drainage, the soil must be dug out and replaced with a 4" to 7" bed of gravel before laying 4" of asphalt. Must be installed before the ground freezes.

Used for spreading and smoothing asphalt, this rake-like tool has a straight edge and a toothed side.

Asphalt-based adhesive that is normally used in roofing.

Asphalt-based paint used for waterproofing.

The primary ingredient in these shingles is asphalt. The shingle is normally between 12" to 36" with cutouts on the bottom, which is the part that will be exposed to weather conditions. Exterior surface coat is made with mineral granules as protection from sunlight and weather. 80% of roofing shingles used are either asphalt or fiberglass because they wear well and are easy to install as well as being attractive in appearance.

Also referred to as flashing cement, this asphalt-based roofing cement remains pliable at colder temperatures.

Normally used as a waterproofing agent, asphaltum is a very thin asphalt compound.

Removal of fluid or other matter through suction.

The apparatus used for removing air, fluids, etc. by suction.

see American Society of Real Estate Counselors.

Means of determining, by analysis, quantities of metals in ore samples.

The combing of several adjoining lots to increase total value.

To fit or put together parts of something.

A fitting together of parts to make a whole.

Diagram to facilitate the ability to assemble an item.

In many factories, it is an arrangement where each worker performs his own particular specialized operation as the item passes by, often on a slowly moving track.

To estimate value. Alternately, to levy a tax or fee on property.

Value placed on a home by a government tax assessor in order to calculate a tax base.

Estimated value of a piece of property. Alternately, a levy placed on a property in addition to taxes.

Period of time a municipality allows between valuations of property for tax purposes.

List of taxable properties as compiled by the tax assessor.

Official who determines the assessed value of a property.

Item of value, i.e. cash, securities, investments, real estate, etc.

Used to determine class lives for property and equipment, this is a range of depreciable lives allowed by the IRS for a particular asset.

To transfer certain rights to another.

Transfer of rights in order to pay a debt from one party to another, with the original party remaining liable for the debt if the second party defaults.

The transfer of a mortgage from the old owner to the new owner. This type of mortgage is an assumable mortgage.

The person transferring rights and interests in a property.

Block of cylinder-shaped stone.

Mortgage which can be transferred to another qualified borrower upon the sale, to that borrower, of the home on which the mortgage exists.

Provision allowing a buyer to take over transfer of the mortgage, which is held by the seller.

Fee the lender charges to process the paperwork for the buyer assuming the existing loan.

The buyer of a property agrees to accept the existing mortgage on that property but the seller is not relieved of that obligation unless the lender agrees to release him/her from that responsibility.

The giving of a guarantee or promise to someone to instill confidence.

American Society for Testing Materials, a non-profit organization consisting of a variety of qualified professionals who decide the level of quality that must be used in building materials for a particular job. A standard is proposed and these professionals either approve it or suggest changes. There is a vote to decide on approval and then it is published and manufacturers are expected to comply. If they do not, they are not given an ASTM number and cannot be used for jobs that require ASTM approved products. ASTM Standard Index American Society for Testing Materials Standards Index is the list, by subject and number, of published standards that have been approved by the Society

Molding which resembles a string of beads and is usually attached to one of a pair of door, which closes on the other. The molding covers the space between the closed doors to provide a weather seal.

Small semi-circular molding placed around the top or bottom of columns.

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Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.

Sandy Wills
RE/MAX Town Center
19873 Century Boulevard Unit 220
Germantown, MD 20874
Office: 301-540-2232
Cell: 301-873-1474
Direct: 301-428-9300