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  • Shingles that have added dimensionality because of extra layers or tabs, giving a shake-like appearance. Read More
  • This is the metal or concrete holding back the earth to make space for basement windows. Read More
  • A transaction in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an(...) Read More
  • A property that is stated as-is indicates the seller is unwilling to perform repairs. It could also mean the property’s price is as-is. It is(...) Read More
  • Asbestos (or magnesium silicate) is a material which was previously favored in construction and insulation products due to its stability and(...) Read More
  • Typically the value placed on property for the purpose of taxation. Read More
  • A public official who establishes the value of a property for taxation purposes. Read More
  • A unique number assigned to each parcel of land by a county tax assessor. The APN is based on formatting codes depending on the home’s location.(...) Read More
  • Anything of monetary value that is owned by a person or company. Assets include real property, personal property, stocks, mutual funds, etc. Read More
  • An asset-based loan or asset utilization loan uses assets as income for qualification purposes. A type of non-QM loan that allows borrowers to(...) Read More
  • An asset-based loan or asset utilization loan uses assets as income for qualification purposes. A type of non-QM loan that allows borrowers to(...) Read More
  • A type of non-QM loan that allows borrowers to use their substantial assets to qualify for a mortgage loan instead of employment income, whereby(...) Read More
  • An asset-based loan or asset utilization loan uses assets as income for qualification purposes. A type of non-QM loan that allows borrowers to(...) Read More
  • A systematic approach to the procurement, maintenance, operation, rehabilitation and disposal of one or more assets which integrates the(...) Read More
  • In the real estate market, this expression is applied to the valuation of land, buildings, and/or plant and machinery generally for(...) Read More
  • The transfer of ownership, rights, or interests in property by one person, the assignor, to another, the assignee. Read More
  • Signing over of contract. Typically requires consent of other party prior to any liabilities can be assigned. Read More
  • A document evidencing the transfer of ownership of a mortgage from one party to another. Read More
  • A fee assessed to cover recording fees associated with a loan transfers closing from a lender to a specialized loan servicer who handles the(...) Read More
  • A privately owned rental property that, through government subsidy, houses low-income residents who otherwise would not be able to afford market(...) Read More
  • A mortgage loan that can be taken over (assumed) by the buyer when a home is sold. An assumption of a mortgage is a transaction in which the(...) Read More
  • A buyer’s agreement to take primary responsibility for paying an existing mortgage from a seller. Read More
  • The fee imposed by a lender charges to allow a buyer to assume the existing borrower's mortgage. Read More
  • A molding, attached to one of a pair of swinging double doors, against which the other door strikes. Read More
  • An opening that is placed in the drywalled ceiling of a home providing access to the attic. Read More
  • In houses, screened openings provided to ventilate an attic space. Read More
  • A lawyer's written statement formally stating the believed condition of a real estate title. Read More
  • A type of window that is hinged at the top and the bottom panel, or sash, swings outward. Read More
  • Billings for work performed or costs incurred by one party that, in accordance with the agreement, should have been performed or incurred by the(...) Read More
  • To prime, or apply paint to, the back or exterior of a piece of woodwork. Back Priming helps to prevent wood grain from contracting or swelling. Read More
  • When a wholesaler purchases a property and immediately resells it to an end buyer. A double close is different from an assignment of contract(...) Read More
  • Or "Foam Backer Rod". A flexible, cylindrical-shaped material used for chinking wide joints; for enhanced sealant/caulking performance. Read More
  • The replacement of excavated earth into a trench around or against a basement /crawl space foundation wall. Read More
  • Supportive framing lumber was installed between studs and behind drywall for towel holders, cabinets, and railings. Read More
  • Work the framing contractor does after the mechanical subcontractors (Heating-Plumbing-Electrical) finish their phase of work at the Rough(...) Read More
  • The upright surface, often made of tile, behind a kitchen counter, sink, or stove, that protects the wall from damage from splatter due to(...) Read More
  • A binding contract to purchase a property, made in acknowledgment of an existing offer, should the existing transaction ultimately not close. At(...) Read More
  • A financial statement that shows assets, liabilities, and net worth as of a specific date. Read More
  • A transformer that steps up the voltage in a florescent lamp. Read More
  • Framed walls (generally over 10' tall) that run the entire vertical length from the floor sill plate to the roof. This is done to eliminate the(...) Read More

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