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  • A business organization with 100 or fewer stockholders that decides not to be taxed as a regular corporation. There are other requirements to(...) Read More
  • The amount of Portland cement in a cubic yard of concrete mix. Generally, 5 or 6 sack is required in a foundation wall. Read More
  • A 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
  • When 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
  • A person conducting real estate activities together with a licensed real estate broker. Read More
  • Contract signed by buyer and seller stating the terms and conditions under which a property will be sold. Read More
  • A 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
  • A 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
  • Lime that is mixed with sand, resulting in a textured finish on a wall. Read More
  • An underground sewer system that transports sewage from the interior pipes to a sewage treatment plant. Read More
  • A 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
  • A device, usually operated by a spring and designed to hold a single hung window vent up and in place Read More
  • A wall opening made of one or several movable panels (referred to as sashes) that serve as a frame for holding glass panes. Read More
  • The recordable instrument issued by the lender verifying full payment of a mortgage debt. Read More
  • A felt which is impregnated with tar or asphalt. Read More
  • A table on the blueprints that list the sizes, quantities and locations of the windows, doors and mirrors. Read More
  • A rough drawing of a room or building that shows the general size and shape of the space. Read More
  • The total estimated cost for a project prior to any construction adjustments being made. Read More
  • The description of a project that includes in-depth details and describes the work to be completed. Read More
  • The removal of all drywall material and debris after the home is "hung out" (installed) with drywall. Read More
  • The first coat of plaster, which is scratched to form a bond for a second coat. Read More
  • The board used to level concrete once it has been poured into a form. Read More
  • To level off concrete to the correct elevation during a concrete pour. Read More
  • A small strip of wood, usually the thickness of the plaster coat, used as a guide for plastering. Read More
  • Cutting and fitting woodwork to an irregular surface. Read More
  • (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
  • A finishing material, either clear or pigmented, that is usually applied directly over raw wood for the purpose of sealing the wood surface. Read More
  • Drying and removing moisture from green wood in order to improve its usability. Read More
  • A residential property, typically at least 50 miles from the primary residence and it cannot appear utilized for rental investment purposes Read More
  • A mortgage ranking in priority immediately below a first mortgage. Read More
  • Adding a second level to a single-story home by removing the roof. Read More
  • Market in which previously issued mortgages and mortgage-backed securities are traded among lenders and investors. Read More
  • A program allowing private landlords to rent properties at equitable market rates for qualified tenants with a low-income background. The(...) Read More
  • Specific views of the home within building plans that also feature ceiling heights. Read More
  • A loan that is backed by property, etc. Read More
  • A benchmark interest rate for dollar-denominated derivatives and loans that is replacing the London Interbank Offered Rate (LIBOR). SOFR is the(...) Read More
  • The property or assets provided or pledged as collateral for a loan. Read More
  • A payment collected from the tenant by the landlord to secure funds for covering any property damage. Read More
  • Shingles containing factory-applied strips or spots of self-sealing adhesive. Read More
  • Owner-provided financing. The seller acts like the bank, holding the note and collecting payments. Read More

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