- S CorporationA business organization with 100 or fewer stockholders that decides not to be taxed as a regular corporation. There are other requirements to(...) Read More
- Sack MixThe amount of Portland cement in a cubic yard of concrete mix. Generally, 5 or 6 sack is required in a foundation wall. Read More
- SaddleA small second roof built behind the back side of a fireplace chimney to divert water around the chimney. Also, the plate at the bottom of(...) Read More
- Sale/Lease BackWhen a lender buys a property and leases it back to the seller for an extended period of time. This arrangement allows the seller to make full(...) Read More
- Sales AgentA person conducting real estate activities together with a licensed real estate broker. Read More
- Sales AgreementContract signed by buyer and seller stating the terms and conditions under which a property will be sold. Read More
- Sales ContractA contract between a buyer and seller which should explain: (1) What the purchase includes, (2) What guarantees there are, (3) When the buyer(...) Read More
- Saltbox RoofA saltbox roof is a type of gable roof where the ridge (or peak) is off-center because the roof's pitch is different on each of the two roof sections. Read More
- Sand Float FinishLime that is mixed with sand, resulting in a textured finish on a wall. Read More
- Sanitary SewerAn underground sewer system that transports sewage from the interior pipes to a sewage treatment plant. Read More
- SashA single light frame containing one or more lights of glass. The frame that holds the glass in a window, often the movable part of the window. Read More
- Sash BalanceA device, usually operated by a spring and designed to hold a single hung window vent up and in place Read More
- Sash WindowA wall opening made of one or several movable panels (referred to as sashes) that serve as a frame for holding glass panes. Read More
- Satisfaction of MortgageThe recordable instrument issued by the lender verifying full payment of a mortgage debt. Read More
- Saturated FeltA felt which is impregnated with tar or asphalt. Read More
- Schedule (Window, Door, Mirror)A table on the blueprints that list the sizes, quantities and locations of the windows, doors and mirrors. Read More
- Schematic DrawingA rough drawing of a room or building that shows the general size and shape of the space. Read More
- Schematic EstimateThe total estimated cost for a project prior to any construction adjustments being made. Read More
- Scope of WorkThe description of a project that includes in-depth details and describes the work to be completed. Read More
- Scrap OutThe removal of all drywall material and debris after the home is "hung out" (installed) with drywall. Read More
- Scratch CoatThe first coat of plaster, which is scratched to form a bond for a second coat. Read More
- ScreedThe board used to level concrete once it has been poured into a form. Read More
- Screed, ConcreteTo level off concrete to the correct elevation during a concrete pour. Read More
- Screed, PlasterA small strip of wood, usually the thickness of the plaster coat, used as a guide for plastering. Read More
- ScribingCutting and fitting woodwork to an irregular surface. Read More
- Scupper(1) An opening for drainage in a wall, curb or parapet. (2) The drain in a downspout or flat roof, usually connected to the downspout. Read More
- SealerA finishing material, either clear or pigmented, that is usually applied directly over raw wood for the purpose of sealing the wood surface. Read More
- SeasoningDrying and removing moisture from green wood in order to improve its usability. Read More
- Second HomeA residential property, typically at least 50 miles from the primary residence and it cannot appear utilized for rental investment purposes Read More
- Second MortgageA mortgage ranking in priority immediately below a first mortgage. Read More
- Second-Story AdditionAdding a second level to a single-story home by removing the roof. Read More
- Secondary Mortgage MarketMarket in which previously issued mortgages and mortgage-backed securities are traded among lenders and investors. Read More
- Section 8A program allowing private landlords to rent properties at equitable market rates for qualified tenants with a low-income background. The(...) Read More
- Section DrawingsSpecific views of the home within building plans that also feature ceiling heights. Read More
- Secured LoanA loan that is backed by property, etc. Read More
- Secured Overnight Financing RateA benchmark interest rate for dollar-denominated derivatives and loans that is replacing the London Interbank Offered Rate (LIBOR). SOFR is the(...) Read More
- SecurityThe property or assets provided or pledged as collateral for a loan. Read More
- Security DepositA payment collected from the tenant by the landlord to secure funds for covering any property damage. Read More
- Self-Sealing ShinglesShingles containing factory-applied strips or spots of self-sealing adhesive. Read More
- Seller Carry BackOwner-provided financing. The seller acts like the bank, holding the note and collecting payments. Read More
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