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TermDefinition
- Brick TieA small, corrugated metal strip @ 1" x 6"x 8" long nailed to wall sheeting or studs. They are inserted into the grout mortar joint of the veneer brick, and holds the veneer wall to the sheeted wall behind it.
- Brick VeneerA vertical facing of brick laid against and fastened to sheathing of a framed wall or tile wall construction.
- Bridge LoanA short-term loan used to’bridge' the period until long-term financing is secured or the asset is sold, allowing the borrower to meet current obligations by providing immediate cash flow.
- BridgingSmall wood or metal members that are inserted in a diagonal position between the floor joists or rafters at mid-span for the purpose of bracing the joists/rafters & spreading the load.
- British Thermal UnitThe amount of heat required to raise 1 pound of water 1 degree Fahrenheit.
- BTUThe amount of heat required to raise 1 pound of water 1 degree Fahrenheit.
- BrokerOne who acts as an agent for another in negotiating sales or purchases in return for a fee or commission.
- BrokerageA fee or commission paid to a broker.
- Builder's Risk InsuranceInsurance coverage on a construction project during construction, including extended coverage that may be added for the contract for the customer's protections.
- Building Area (Gross)The total enclosed and unenclosed area of the building at all building floor levels measured between the normal outside face of any enclosing walls, balustrades and supports.
- Building ClassificationsInvestment properties in the real estate market are divided into four classifications (A, B, C, and D) based on value (age, condition, amenities, location, etc.), allowing investors to determine the value, risk, and profitability of a subjec.t property.
- Building CodeRegulations that set standards and requirements for the construction, maintenance and occupancy of buildings to provide for safety, health and welfare.
- Building InspectorA building inspector reviews plans and visits the construction site to ensure all regulations and codes are met. An inspector can also examine electrical and wiring, HVAC, and plumbing to check for proper standards and code compliance. A building inspector can shut a project down if requirements aren't up to par.
- Building InsuranceInsurance covering the structure of the building.
- Building PermitAuthorization granted by a government or other regulatory body obtained to legally allow a building construction or renovation project to commence.
- Built-Up RoofA roofing composed of three to five layers of asphalt felt laminated with coal tar, pitch, or asphalt. The top is finished with crushed slag or gravel. Generally used on flat or low-pitched roofs.
- Bulkhead enclosuresA partition, wall, or embankment that acts as a protective barrier.
- Bull Nose (Drywall)Rounded drywall corners.
- BungalowA one-story small house or cottage is usually accompanied by large front porches and verandas.
- ButtMaterials placed end-to-end or end-to-edge, without overlapping.
- Butt EdgeThe lower edge of the shingle tabs.
- Butt HingeThe most common type. One leaf attaches to the door's edge, the other to its jamb.
- Butt JointThe junction where the ends of two timbers meet, and also where sheets of drywall meet on the 4 foot edge. To place materials end-to-end or end-to-edge without overlapping.
- Buy DownA subsidy (usually paid by a builder or developer) to reduce monthly payments on a mortgage.
- Buy, Rehab, Rent, Refinance, and RepeatAcronym for Buy, Rehab, Rent, Refinance and Repeat. BRRRR describes a framework where investors build a real estate portfolio that generates passive income through acquiring and renovating distressed properties, and renting the refurbished homes.
- BRRRRAcronym for Buy, Rehab, Rent, Refinance and Repeat. BRRRR describes a framework where investors build a real estate portfolio that generates passive income through acquiring and renovating distressed properties, and renting the refurbished homes.
- Buydown AccountAn account in which funds are held so that they can be applied as part of the monthly mortgage payment as each payment comes due during the period that an interest rate buydown plan is in effect.
- By Pass DoorsDoors that slide by each other and commonly used as closet doors.
- C1-C6 Condition ratingsProperty condition ratings imposed by the Single Family Uniform Appraisal Dataset (UAD), whereby appraisals must rate the condition of the home in addition to its quality (see "Q1 - Q6"). A C1 condition rating indicates New Construction where the entire structure and all components are new and the dwelling features no physical depreciation. C2 properties feature no deferred maintenance, little or no physical depreciation, and require no repairs. A C3 home indicates Limited Deferred Maintenance, where improvements are well-maintained and feature limited physical depreciation due to normal wear and tear. A C4 dwelling shows Minor Deferred Maintenance and physical deterioration due to normal wear and tear, but all major building. C5 homes have Significant Deferred Maintenance and need some significant repairs. Some building components need repairs, rehabilitation, or updating. On the lowest end of the rating are C6 homes with Severe Deferred Maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrity of the improvements.
- Cabinet BoxA cabinet box is the interior frame and outer shell of a wall or base cabinet. Cabinet boxes normally have sides, a top and bottom panel and in most cases, a rear panel. Doors and drawer faces can normally be replaced to change the style or appearance of a cabinet box.
- Cabinet Crown MoldingCabinet crown molding is the same as crown molding often found in other rooms of the house, but it matches the kitchen cabinet finish. It is normally installed at the top of wall cabinets to add a decorative touch and is available in various widths. It may be installed even if the cabinets don't reach the ceiling.
- Cabinet DepthAlmost all kitchen and bathroom cabinets are 23 ½ inches deep, but when placing two cabinets together, such as a linen cabinet and vanity, it can be a good idea to verify that they are the same depth prior to placing your order.
- Cabinet DoorsMany wall and base cabinets have a hinged door that allow access to the interior of the cabinet. Cabinet doors normally have all-wood construction although some styles may feature wood veneer over plywood or composite board. The cabinet doors may contribute more to the overall style of your kitchen cabinets than any other component.
- Cabinet FaceThis is the front of a wall or base box. The cabinet doors are normally hinged to the face of wall and base cabinets. The face is often, but not always, in the same finish as the cabinet box and doors.
- Cabinet HardwareThe hardware installed to facilitate the opening and closing of your cabinet doors and drawers is called the cabinet hardware. Cabinet hardware can consist of pulls, knobs, handles, or a combination of all three. Cabinet hardware can complement the look of your cabinets and can range from budget friendly to very expensive depending on the style and material.
- Cabinet LayoutA cabinet layout is a design or footprint of your kitchen or bath showing the proposed locations of your cabinets. Each cabinet is normally designated by its width and style such as base, wall, or vanity. Specialty cabinet locations are also shown. Cabinet layouts may be provided by a kitchen designer or cabinet supplier or you may do your own.
- Cabinet RefacingA more cost-friendly alternative to cabinet replacement where existing cabinets are repainted or have a veneer applied to them.
- Cabinet SoffitThe space between the top of the upper cabinets and the ceiling in kitchens. The soffit forms a boxed framework in this space.
- Cabinet ValanceA cabinet valance is a decorative trim piece used to span a space between two wall cabinets. They are often used when there is a window over the kitchen sink. Valances are available in numerous styles and normally match the finish of the kitchen cabinets.
- Call OptionA provision of a note that allows the lender to require repayment of the loan in full before the end of the loan term. The option may be exercised due to breach of the terms of the loan or at the discretion of the lender.