- P TrapCurved, "U" section of drain pipe that holds a water seal to prevent sewer gasses from entering the home through a fixtures water drain. Read More
- P-TrapA U-shaped portion of a drain pipe that prevents sewer gasses from entering a home. Read More
- Pad Out, Pack OutTo shim out or add strips of wood to a wall or ceiling in order that the finished ceiling/wall will appear correct. Read More
- PaddingA material installed under carpet to add foot comfort, isolate sound, and to prolong carpet life. Read More
- Paid Outside of ClosingA reference on the closing disclosure indicating an item will be or has been paid (typically in advance of closing). Read More
- PaintA combination of pigments with suitable thinners or oils to provide decorative and protective coatings. Can be oil based or latex water based. Read More
- PalletsWooden platforms used for storing and shipping material. Forklifts and hand trucks are used to move these wooden platforms around. Read More
- PanelA board, typically rectangular in shape that is set in a frame. Usually refers to the panels within a door frame or cabinet. Read More
- Pantry CabinetA pantry cabinet is a specialty cabinet designed with numerous shelves and sometimes drawers to hold kitchen supplies and tools. Pantry cabinets(...) Read More
- Paper, BuildingA general term for papers, felts, and similar sheet materials used in buildings without reference to their properties or uses. Generally comes(...) Read More
- ParapetA wall placed at the edge of a roof to prevent people from falling off. Read More
- Partial PaymentA payment that is less than the scheduled monthly payment on a mortgage loan. Read More
- Particle BoardA wood product composed of sawdust and adhesives that is often used for furniture, underlayment, and substrate. Read More
- Parting StopA small wood piece used in the side and head jambs of double hung windows to separate the upper sash from the lower sash. Read More
- PartitionA wall that divides a room into parts. Read More
- Pass-Through TaxationThe process in which a company that does not pay a corporate income tax passes all of its earnings to its owners. The owners then pay taxes on(...) Read More
- Passive InvestingAn investment method that does not require continuous or extensive effort from the investor to maintain. This includes Real Estate Investment(...) Read More
- Patio HomeTypically refers to a free-standing individual home, but, similar to a condominium, the landscaping, common areas and exterior are maintained by(...) Read More
- PaverPaving stone, tile, or brick-like concrete that is used to make a pathway. Read More
- Paver, PavingMaterials-commonly masonry-laid down to make a firm, even surface. Read More
- Payment CapFor an adjustable-rate mortgage (ARM) or other variable rate loan, a limit on the amount that payments can increase or decrease during any one(...) Read More
- Payment Change DateThe date on which a new monthly payment amount takes effect, for example, on an adjustable-rate mortgage (ARM) loan. Read More
- Payment ScheduleA schedule of payments, usually included in the contract, that describes at what point(s) the customer will pay the contractor. May include a(...) Read More
- PedestalA metal box installed at various locations along utility easements that contain electrical, telephone, or cable television switches and connections. Read More
- Pedestal SinkA sink that is made up of an upper basin and a lower shaft. Read More
- Penalty ClauseA provision in a contract that provides for a reduction in the amount otherwise payable under a contract to a contractor as a penalty for(...) Read More
- Pencil DrawerA pantry cabinet is a specialty cabinet designed with numerous shelves and sometimes drawers to hold kitchen supplies and tools. Pantry cabinets(...) Read More
- PendingPending means the seller has accepted an offer from a buyer but hasn’t yet closed (and can still fall through if contingencies are not met or if(...) Read More
- PeninsulaA metaphorical term for an extended kitchen counter space connected to the wall on only one side. Read More
- PennyAs applied to nails, it originally indicated the price per hundred. The term now series as a measure of nail length and is abbreviated by the(...) Read More
- Penny TileA small type of tile, usually between 0.75 inches and 1 inch wide, used to decorate kitchens, bathrooms, and pools. Read More
- PennyweightA system of measurement for the size of a nail. Read More
- Per DiemPer diem, meaning per day in Latin, refers to interest calculated per day or fee paid to the lender if a loan is not established by the initial(...) Read More
- Percentage FeeAn agreed-upon percentage from the property’s gross collectible income for a property management fee. Read More
- Percolation TestA test that determines how much liquid the ground is able to absorb from a septic tank; it is typically performed by a soil engineer. Read More
- Performance BondAn amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance(...) Read More
- PergolaAn arched structure with an open roof and cross rafters, supported by posts or columns, typically installed in a garden, park, or backyard, and(...) Read More
- Perimeter DrainA perforated pipe with a mesh cover that is installed in the ground circling the perimeter of your home. The small holes in the pipe allow water(...) Read More
- Periodic CapConsumer safeguard that limits the amount the interest rate on an adjustable-rate mortgage (ARM) can change in an adjustment interval. Read More
- Periodic-Rate-CapConsumer safeguards that limit the amount the interest rate on an adjustable-rate mortgage can change in an adjustment interval and/or over the(...) Read More